(Hybrid Mode)

[Per: Arun Baroka, Member (Technical)]

Brief facts:

The matter relates to an appeal filed under Section 61 of the Insolvency

and Bankruptcy Code, 2016 (“Code”) against the impugned order dated

04.07.2023 passed by the National Company Law Tribunal, Jaipur Bench in

Company Petition (IB) No. 14/9/JPR/2020, in which Adjudicating Authority

has allowed Section 9 proceedings against M/s Macro Infra Contractors

Private Limited.

2.

Heard Learned Counsel for both the parties and perused the record.

Case of the Appellant Mr Ashok Singh – Suspended Director of the CD

3.

Appellant – Ashok Singh, is the Suspended Director of the Corporate

Debtor namely, M/s Macro Infra Contractors Private Limited (Corporate

Debtor- CD). The Corporate Debtor is primarily engaged in the business of

the development of residential real estate in and around Jaipur, Rajasthan.

On the petition of Respondent No.2 / M/s RG Colonizers /operational

Creditor -OC, the Adjudicating Authority allowed Petition against the

Corporate Debtor under Section 9 of the Code and it being represented

through its Resolution Professional-RP, R1, herein. OC was given a project by

the Corporate Debtor for construction of