Authority: National Company Law Tribunal, Jaipur Bench

Order Date: June 29, 2026

Case Overview

The National Company Law Tribunal (NCLT) Jaipur Bench heard multiple interconnected applications and progress reports related to the liquidation proceedings of RG Colonizers Pvt. Ltd. The main company under liquidation is RG Colonizers Pvt. Ltd., with Macro Infra Contractors Pvt. Ltd. & Others named as respondents. The proceedings originate from CP No. (IB)-14/9/JPR/2020 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The bench comprised Hon'ble Ms. Reeta Kohli (Judicial Member) and Hon'ble Ms. Kavita Bhatnagar (Technical Member).

The liquidator, Babu Lal Sharma, appeared in person along with legal counsel. Various other advocates represented different applicants and respondents across the multiple applications. The tribunal addressed several specific applications:

  • IA No. 416/JPR/2023: The liquidator requested and was granted a 10-day adjournment to file a comprehensive affidavit regarding tally data and balance sheet information. The affidavit must demonstrate how related parties were advanced loans and how round-tripping was conducted by the suspended management.
  • IA No. 400/JPR/2024 & IA No. 410/JPR/2024: These applications were adjourned to July 17, 2026, at the request of the applicant's counsel.
  • IA No. 395/JPR/2025: The tribunal noted that all respondents despite service had not filed replies. One final opportunity was granted to all respondents to file replies within ten days, failing which their right to file replies would stand extinguished.
  • IA No. 127/JPR/2026: The liquidator requested time to provide a comprehensive affidavit and show the flow of money from the corporate debtor to various related entities. The tribunal directed that an appropriate flow chart be filed along with the affidavit.

Final Outcome

All matters were adjourned to July 17, 2026. The liquidator was directed to file comprehensive affidavits with supporting documentation (including flow charts) showing the movement of funds to related parties and evidence of round-tripping by the previous management. Respondents in IA No. 395/JPR/2025 were given a final 10-day deadline to file replies.

Topics: Corporate Insolvency, Related-Party Transactions, Liquidation Proceedings