# In the matter of Anil Kumar Tulsiani Vs. Rakesh Kumar Gupta & Anr. CA(AT)(Insolvency) 35-2019

> NCLAT judgment dated 2019-01-22. Citation: TCN-2019-NCLAT-00859. This is a Company Appeal (AT) (Insolvency) No. 35 of 2019. The appeal was preferred by Anil…

- **Court:** NCLAT
- **Order date:** 22 Jan 2019
- **Citation:** TCN-2019-NCLAT-00859
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/anil-kumar-tulsiani-vs-rakesh-kumar-gupta-anr-ca-98d25348

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 35 of 2019. The appeal was preferred by Anil Kumar Tulsiani, Director of ‘Sunshine Infraheights Private Limited’ (Corporate Debtor), against an order dated 17th December, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench. The Adjudicating Authority admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by the Respondents, Rakesh Kumar Gupta and Ms. Swati Goel.

## Facts

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

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in admitting the application under Section 7 of the …

**Ratio:** The Adjudicating Authority should consider all relevant facts and circumstances before

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**Reasoning:** The Adjudicating Authority failed to consider the Corporate Debtor's plea that they were

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**Interpretation:** Section 7 of the Insolvency and Bankruptcy Code, 2016, requires the

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**Application:** The Adjudicating Authority's order was set aside because it failed to consider

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Anil Kumar…
- **Respondents:** Sunshine Infraheig…; Rakesh Kuma…

## Timeline

- **2018-12-17 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, passed an…
- **2019-01-22 — Appeal F…**: Anil Kumar Tulsiani, Director of ‘Sunshine Infraheights Private Limited’, preferred an…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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