# In the matter of Gautam Thapar vs. Spacewood Furnishers Pvt. Ltd. & Ors.

> NCLAT judgment dated 2024-08-21. Citation: TCN-2024-NCLAT-00247. The case involves an appeal against an order dated 01.09.2023 passed by the NCLT, New Delhi,…

- **Court:** NCLAT
- **Order date:** 21 Aug 2024
- **Citation:** TCN-2024-NCLAT-00247
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/gautam-thapar-vs-spacewood-furnishers-pvt-ltd-ors-c10da0df

## Summary

### Background

The case involves an appeal against an order dated 01.09.2023 passed by the NCLT, New Delhi, which initiated corporate insolvency resolution process against Respondent No.2 Company. The appellant alleged the existence of a pre-existing dispute between the parties.

## Facts

The appellant, Gautam Thapar, filed an appeal against an order passed by the NCLT, New Delhi, initiating corporate insolvency resolution process against Respondent No.2 Company. The appellant claimed a pre-existing dispute. During the final arguments, the parties settled the dispute, with the appellant agreeing to pay Rs.61 Lakh, including Rs.2 Lakh towards the IRP's cost, which was paid by Respondent No.1 to Respondent No.3. The payment of Rs.61 lakhs has since been made to Respondent No.1 by RTGS (Transaction Reference Number – HDFCR 5202408218578205 dated 21st August, 2024). The learned Counsel for Respondent No.1 confirms the same. Consequently, the CIRP was quashed, and the NCLT order was set aside. The relevance of the facts is that they demonstrate the

…

## Issues and analysis

### Issue 1: Whether the appeal against the NCLT order initiating corporate insolvency resolution process is …

**Ratio:** The ratio is that an appeal is maintainable against an order initiating corporate

…

**Reasoning:** The court considered the appellant's claim of a pre-existing dispute as a potential

…

**Interpretation:** The interpretation is that the appellate tribunal has the jurisdiction to hear

…

**Application:** In this case, the issue of maintainability became irrelevant due to the

…

## Parties

- **Judges:** Yogesh K…; Ajai Das Me…
- **Appellants:** Gautam T…
- **Respondents:** Spacewood…

## Timeline

- **2023-09-01 — NCLT Ord…**: NCLT, New Delhi, passed an order in CP(IB) 2930/ND/2019 initiating corporate insolvency…
- **2024-08-21 — Payment by Ap…**: Appellant made a payment of Rs.61 lakhs to Respondent No.1 by RTGS (Transaction Reference…

---

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/gautam-thapar-vs-spacewood-furnishers-pvt-ltd-ors-c10da0df