Anil Kumar Tulsiani, Director of Sunshine Infraheights Private Limited (Corporate Debtor), filed an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Rakesh Kumar Gupta and Ms. Swati Goel (Respondents). The Corporate Debtor argued that there was no default on their part, as they were ready to execute the sale deed in favor of the allottees (Respondents) subject to payment of the total consideration amount. The Corporate Debtor had procured the stamp papers before the admission of the application under Section 7. The Adjudicating Authority failed to consider the Corporate Debtor's plea. The parties have settled the

Anil Kumar Tulsiani, Director of Sunshine Infraheights Private Limited (Corporate Debtor), filed an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Rakesh Kumar Gupta and Ms. Swati Goel (Respondents). The Corporate Debtor argued that there was no default on their part, as they were ready to execute the sale deed in favor of the allottees (Respondents) subject to payment of the total consideration amount. The Corporate Debtor had procured the stamp papers before the admission of the application under Section 7. The Adjudicating Authority failed to consider the Corporate Debtor's plea. The parties have settled the