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Extortionate credit transactions.

Section 167 - Act - ADMINISTRATION AND DISTRIBUTION OF THE ESTATE OF THE BANKRUPT - Insolvency and Bankruptcy Code, 2016 - Section 167 - 167. (1) Subject to sub-section (6), on an application by the bankruptcy trustee, the Adjudicating Authority may .....

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ng on the bankruptcy commencement date. (3) An order of the Adjudicating Authority may- (a) set aside the whole or part of any debt created by the transaction; (b) vary the terms of the transaction or vary the terms on which any security for the purp .....

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s security for the purposes of the transaction. (4) Any sum paid or any property surrendered to the bankruptcy trustee shall be included in the estate of the bankrupt. (5) For the purposes of this section, an extortionate credit transaction is a tran .....

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