This is an appeal filed by a Shareholder and Suspended Director of the Corporate Debtor challenging the order dated 03.01.2023 passed by the National Company Law Tribunal, New Delhi Bench, Court-III, which admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016. The financial creditor, Kaliber Associates Pvt. Ltd., had advanced various amounts to the Corporate Debtor, Diamond IT Infracon Pvt. Ltd., between December 2013 and December 2017. Insolvency proceedings were initiated against Kaliber Associates Pvt. Ltd. on 18.01.2019. The IRP of Respondent No. 1 wrote to the Corporate Debtor on 31st January, 2019, seeking confirmation of a balance of Rs. 17,47,50,000/-. Liquidation proceedings were initiated against Respondent No. 1. Respondent No. 1,

This is an appeal filed by a Shareholder and Suspended Director of the Corporate Debtor challenging the order dated 03.01.2023 passed by the National Company Law Tribunal, New Delhi Bench, Court-III, which admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016. The financial creditor, Kaliber Associates Pvt. Ltd., had advanced various amounts to the Corporate Debtor, Diamond IT Infracon Pvt. Ltd., between December 2013 and December 2017. Insolvency proceedings were initiated against Kaliber Associates Pvt. Ltd. on 18.01.2019. The IRP of Respondent No. 1 wrote to the Corporate Debtor on 31st January, 2019, seeking confirmation of a balance of Rs. 17,47,50,000/-. Liquidation proceedings were initiated against Respondent No. 1. Respondent No. 1,