Deputy CM Manish Sisodia announced the names after a meeting of the party's political affairs committee at CM Arvind Kejriwal residence.
While Mr Singh has been associated with the party since its inception, Sushil Gupta is a Delhi-based businessman and N.D. Gupta a chartered accountant. He provides free education to 15,000 children. ND Gupta, a chartered accountant, is the AAP's main advisor on economic issues.
"Sanjay has not only been working for the party since the very beginning but has also had a contribution in the fight against corruption", he said.
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"Many big names were considered by the party but they stepped back saying that if they get nominated to Rajya Sabha on AAP's ticket, the Central Government would unleash all its machinery to harass them".
According to aources, the possibility of Kumar Vishwas, whose supporters have been demanding an RS seat for him, however, seems to be a bleak one in the present scenario as he shares an uneasy relationship with some leaders of the party including party convenor Arvind Kejriwal.
Predictable as it was, Kumar Vishwas - the poet-turned-politician and founding member of Aam Aadmi Party (AAP) - was, on Wednesday (January 3), snubbed by his party in his quest for being fielded as its candidate for the upcoming biennial election for a Rajya Sabha seat from Delhi.
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In the run-up to the announcement, a section of the party was for nominating senior leaders while others felt that experts from various fields should be nominated.
Sushil Gupta was formerly with the Congress.
Vishwas said he is being punished for speaking the truth and added that it is hard to survive in the party if one disagrees with Kejriwal. The party chose Sushil Gupta who is agriculturist and social activist. Earlier, some eminent personalities from different genre were contacted by AAP for the nominations like former union minister Arun Shourie, ex-Chief Justice of India T S Thakur, RBI governor Raghuram Rajan and names from the cinema also featured in the list.
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Sushil Gupta was fielded as a Congress candidate from the Moti Nagar assembly seat in 2013 against Kuldeep Singh Channa of the AAP.