(Hybrid Mode) [Per: Arun Baroka, Member (Technical)]

• This is an appeal filed by M/s Akbar Travels of India Private Limited under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 (“Code”)

• against the Impugned Order dated 30.11.2023 passed by the National Company Law Tribunal, Jaipur Bench at Jaipur (hereinafter referred to “The Adjudicating Authority”) in I.A. (IBC) No.312/JPR/2023 & C.P. (IB) No. 26/9/JPR/2019, whereby the Adjudicating Authority has dismissed the Application under Section 9 of the Code, against M/s Ritco Travels & Tours Private Limited.

2. The Respondent Company i.e. M/s Ritco Travels & Tours Private Limited is an international travel agent and is recognised by International Air Transport Association (IATA) and is in the business of giving assistance to traveling and touring public. The Appellant is also travel agency recognised by IATA, which deals with international organisations as well. The Respondent received orders for bulk booking of SOTO tickets from a global corporate client i.e. M/s Elumatec UK Limited in April, 2017. The Respondent passed / referred the booking order received by it to the Appellant. The transactions for the boo