# In the matter of Alisa Infratech Pvt. Ltd. (IB)-1298(ND)-2018

> NCLT judgment dated 2019-01-03. Citation: TCN-2019-NCLT-05334. Gulshan Sethi, the operational creditor, filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 3 Jan 2019
- **Citation:** TCN-2019-NCLT-05334
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/alisa-infratech-pvt-ltd-ib-1298nd-2018-191edd8d

## Summary

### Background

Gulshan Sethi, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Alisa Infratech Pvt. Ltd., the corporate debtor, due to the latter's inability to liquidate a financial debt. The operational creditor had booked commercial units in a real estate project developed by the corporate debtor, paying Rs. 1 crore and being allotted five studio apartments. Subsequently, they booked five more units for another Rs. 1 crore. The corporate debtor assured completion within three years with a penalty of Rs. 1000 per day for delays. However, no construction occurred, leading to a criminal complaint. A cheque for Rs. 1 crore issued by the corporate debtor for damages was dishonored.

## Facts

Gulshan Sethi (Operational Creditor) booked commercial units with Alisa Infratech Pvt. Ltd. (Corporate Debtor), a real estate developer. The Operational Creditor paid Rs. 1 crore and was allotted 5 studio apartments (nos. 901-905) in a project in Sector 129, Noida. They booked 5 more units (nos. 1001-1005) on 2013-12-28 for another Rs. 1 crore. The Corporate Debtor assured completion within 3 years and possession. A default clause stipulated damages of Rs. 1000 per day. No construction occurred, leading to a criminal complaint against the Corporate Debtor's directors. The Corporate Debtor issued a cheque for Rs. 1 crore towards damages, which was dishonored. The Corporate Debtor sought rejection of the insolvency petition, citing suppression of facts because the

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## Issues and analysis

### Issue 1: Whether the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by the …

**Ratio:** The factum of filing criminal complaints or proceedings before RERA are independent and

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**Reasoning:** The court reasoned that the existence of criminal complaints or proceedings before RERA

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**Interpretation:** The interpretation is that parallel proceedings, such as those before RERA or

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**Application:** In this case, the fact that the operational creditor had filed criminal

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## Parties

- **Judges:** Ina Mal…; DeepaKr…
- **Appellants:** Gulshan…
- **Respondents:** Alisa Infratech…

## Timeline

- **2013-12-28 — Booking of Additional…**: The financial creditors booked 5 more units bearing nos. 1001 to 1005 against payment of…
- **2019-01-03 — Order Del…**: Order delivered on 3rd…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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