# In the matter of Atul Paper Pvt. Ltd. & Ors. v. Rakesh Kumar Jain & Ors.

> NCLAT judgment dated 2025-07-17. Citation: TCN-2025-NCLAT-00319. The case involves multiple appeals challenging the order dated 06.05.2024 passed by the…

- **Court:** NCLAT
- **Order date:** 17 Jul 2025
- **Citation:** TCN-2025-NCLAT-00319
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/atul-paper-pvt-ltd-ors-v-rakesh-kumar-jain-ors-0ba31302

## Summary

### Background

The case involves multiple appeals challenging the order dated 06.05.2024 passed by the National Company Law Tribunal (NCLT), New Delhi, in IA No.355 of 2021 and CA No.26/2023 in CP (IB)-917(ND)2019. The appeals concern a dispute over a commercial unit sold by RG Infra Build Pvt. Ltd. to Atul Paper Pvt. Ltd. before the commencement of Corporate Insolvency Resolution Process (CIRP).

## Facts

Atul Paper Pvt. Ltd. entered into an Agreement to Sell dated 24.04.2018 with RG Infra Build Pvt. Ltd. for a commercial unit B-101 for Rs.2.70 crores, paying Rs.2.01 crores and taking possession on 25.04.2018, but no Sale Deed was executed.

CIRP against RG Infra Build Pvt. Ltd. commenced on 25.09.2019, and Rakesh Kumar Jain was appointed as the Resolution Professional (RP).

Atul Paper Pvt. Ltd. filed a claim of Rs.2.51 crores before the RP, which was rejected on 27.08.2021.

The RP filed IA No.355 of 2021 seeking a direction to Atul Paper Pvt. Ltd. to vacate the premises.

Liquidation proceedings against RG Infra Build Pvt. Ltd. were initiated on 16.03.2023.

…

## Issues and analysis

### Issue 1: Whether Atul Paper Pvt. Ltd. is entitled to retain possession of the commercial unit based on …

**Ratio:** Section 53A of the Transfer of Property Act requires a registered document for its

…

**Reasoning:** The Agreement to Sell between RG Infra Build Pvt. Ltd. and Atul Paper Pvt. Ltd. was

…

**Interpretation:** An unregistered agreement to sell does not confer any right under Section 53A

…

**Application:** Atul Paper Pvt. Ltd. cannot claim any right under Section 53A of the Property

…

## Parties

- **Judges:** Ashok Bh…; Arun Ba…
- **Appellants:** Punjab National…
- **Respondents:** RG Infra Build…; Rakesh Kuma…; +2 more
- **Other parties:** Atul Kuma…; Sachin Kuma…
- **Advocates:** Kumar Anura…; Zain A.…; +6 more

## Timeline

- **2018-04-24 — Agreement t…**: Atul Paper Pvt. Ltd. entered into an…
- **2019-09-25 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP)…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 42 — Appeal against the decision of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-42)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/atul-paper-pvt-ltd-ors-v-rakesh-kumar-jain-ors-0ba31302