# Sunil Kumar Dahiya vs. Lavkash Verma & Anr.

> NCLAT judgment dated 2026-09-07. Citation: TCN-2026-NCLAT-00264. Sunil Kumar Dahiya, an ex-director/promoter of Vigneshwara Developers Pvt. Ltd. (Corporate…

- **Court:** NCLAT
- **Order date:** 7 Sept 2026
- **Citation:** TCN-2026-NCLAT-00264
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sunil-kumar-dahiya-vs-ms-vigneshwara-developers-pvt-ltd-fwh9x

## Summary

### Background

Sunil Kumar Dahiya, an ex-director/promoter of Vigneshwara Developers Pvt. Ltd. (Corporate Debtor), appealed against an NCLT order dated 10.10.2019 that admitted the Corporate Debtor into insolvency under Section 7 of the IBC. Dahiya argued that the NCLT disregarded ongoing proceedings in the Delhi High Court, where a Revival Scheme for the Corporate Debtor was pending, and judgment was reserved. He also contended that the Section 7 application filed by Lavkash Verma (Financial Creditor) was time-barred. The Delhi High Court had previously stayed the NCLT order and granted Dahiya liberty to approach the NCLAT.

## Facts

The NCLT, Principal Bench, passed an order on 10.10.2019 admitting M/s Vigneshwara Developers Pvt. Ltd. (VDPL) into insolvency under Section 7 of the IBC.

Sunil Kumar Dahiya, the Appellant, is an Ex-director/Promoter of VDPL/Corporate Debtor.

The Appellant claimed that the Adjudicating Authority disregarded the Delhi High Court's proceedings where a Second Motion Application for a Revival Scheme was pending, and judgment was reserved on 13.05.2019.

A winding-up petition was filed against the Corporate Debtor by M/s Intercontinental Consultant and Technocrats Pvt. Ltd., and notice was issued on 18.11.2013.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in initiating Corporate Insolvency Resolution Process …

**Ratio:** The Delhi High Court ultimately rejected the Revival Scheme and allowed for the revival

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**Reasoning:** The Delhi High Court, in its order dated 24.09.2025, rejected the Second Motion for the

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**Interpretation:** The High Court's decision to set aside the revival scheme and allow IBC

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**Application:** Since the very basis of the Appellant's argument (the pendency and viability of

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## Parties

- **Judges:** Sharad Kumar…; Arun Ba…; +1 more
- **Appellants:** Sunil Kumar…; Himisha Dahiya…; +1 more
- **Respondents:** M/s Vigneshwara…; M/s Vigneshwara…; +1 more
- **Other parties:** Ex-director/Promot…; Ex-director/Promot…; +2 more
- **Advocates:** Anannya…; Kashish C…; +5 more

## Timeline

- **2010 — Cause of Action…**: Appellant claims the cause of action to…
- **2010-08-10 — Developer-Anchor Unit…**: Developer-Anchor Unit Agreement executed between Lavkash Verma and M/s Vigneshwara…

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