# In the matter of Vijay Dixit vs. Umesh Gupta, RP & Ors.

> NCLAT judgment dated 2024-07-11. Citation: TCN-2024-NCLAT-00326. This is a Company Appeal (AT) (Insolvency) No. 1300 of 2024 filed against the order dated…

- **Court:** NCLAT
- **Order date:** 11 Jul 2024
- **Citation:** TCN-2024-NCLAT-00326
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vijay-dixit-vs-umesh-gupta-rp-ors-e283b86e

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 1300 of 2024 filed against the order dated 04.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-IV admitting Section 7 application filed by 34 Financial Creditors holding 25 units. The NOIDA Authority has cancelled the allotment of land on which the project was constructed, leading to a Writ Petition No. 56336 of 2005 filed by the appellant's sister concern, which is pending consideration.

## Facts

Vijay Dixit, the suspended director of Senior Builders Ltd., filed an appeal against an order dated 04.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which admitted a Section 7 application filed by 34 Financial Creditors. The NOIDA Authority had cancelled the land allotment for the project, leading to a pending writ petition by the appellant's sister concern. The appellant offered to deposit the amount taken from allottees with 9% interest, where the principal amount was Rs. 11,94,29,229/-. The court directed the appellant to file an affidavit with the tabulated amount and deposit it in two monthly installments. The first deposit is to be made on or before 12.08.2024 and the second on or before 12.09.2024.

## Issues and analysis

### Issue 1: Whether the appeal against the order dated 04.07.2024 passed by the Adjudicating Authority is …

**Ratio:** The maintainability of the appeal is contingent upon the appellant complying with the

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**Reasoning:** The court is considering the appeal based on the appellant's willingness to deposit the

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**Interpretation:** The court interprets the appellant's willingness to deposit the amount as a

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**Application:** The appellant's offer to deposit the amount, coupled with the court's

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Vijay D…
- **Respondents:** Senior Builders…; Umesh G…
- **Advocates:** Gaurav…; Lava…; +4 more

## Timeline

- **2024-04-07 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-IV admitted…
- **2005-01-01 — Cancellation of Land…**: The NOIDA Authority cancelled the allotment of…

## 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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