IndiFTPd 1.0.9beta from rapps, any listing fails, if VBox VM is configured to NAT-mode

Since my first closer test in 0.4.7RC I noted this app as 'run wo result'.
I want to elaborate why, because there were questions from Julcar.

The following reproduction steps do work perfectly in Windows XP SP3:

Reproduction steps
-VBox (here 4.3.12) VM network configured with NAT-configuration
-download indiftpd.exe from rapps and place the exe in C:\
-download and install Total Commander 9.12 from rapps (the exact ver does not matter)
-run C:\indiftpd.exe
-run Total Commander and try to connect to
server:localhost
user:anonymous
pw:test
-By default the TC client will use active connection
and on WinXPSP3 it will properly list the directory contents of drive C: via FTP

Observed result in ros
-It will log on to the server still and transfer username and password
but it will never list the dir contents via FTP

0.4.11-RC-25-gd332edc__indi.webm
0.4.11-RC-25-gd332edc__Indi.log
0.4.11-RC-25-gd332edc__indilog.png