Avoidable transactions - undervalued or preferential ...

Gifts to related parties ruled undervalued u/s 45 of IBC 2016; Liquidator's claims against Respondents upheld.

June 25, 2021

Case Laws Insolvency and Bankruptcy Tri

Avoidable transactions - undervalued or preferential transactions - gifts made to related party - It is concluded that the impugned transactions as alleged by the Liquidator in relation to Respondents 1 to 3 constitute undervalued transactions as envisaged under Section 45 of IBC, 2016 and in the circumstances, the relief as sought for by the Applicant in clause (a) of Para VII is granted - Tri

View Source

← Previous Next →

Avoidable transactions - undervalued or preferential ...

Gifts to related parties ruled undervalued u/s 45 of IBC 2016; Liquidator's claims against Respondents upheld.

June 25, 2021

Case Laws Insolvency and Bankruptcy Tri

You may also like:

The NCLT's finding that the trademark transaction was preferential and undervalued under Sections 43 and 45 of the IBC was overturned. The Resolution Professional (RP)...

The Supreme Court held that the lookback period for related party transactions u/s 43 of the Insolvency and Bankruptcy Code (IBC) is two years before the insolvency...

Preferential, undervalued and fraudulent transactions - Related party transactions - It is amply clear that the Option Agreements I & II are preferential and undervalued...

CIRP - discrimination of Related Party Financial or Operational Creditor - IBC treats related parties as a separate category for specified purposes, excluding from the...

The case involves liquidation of a corporate debtor where a creditor sought refund of an amount with interest paid to prevent invocation of their Bank Guarantee. The...

The NCLAT dismissed the appeal and upheld the NCLT order, ruling that u/s 14 of the IBC, 2016, a security deposit lying with a third party cannot be adjusted against...

The Appellant, a related party unsecured financial creditor, challenged the resolution plan approved by the Committee of Creditors (CoC) and the Adjudicating Authority,...

Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed...

Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed...

Condonation of delay in filing the claim - Refusal to admit the claim - IBC is a time bound process and the Liquidator cannot accept a belated Claim, which would go...

The High Court held that once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan...

Capital gain - transfer of capital asset u/s 2(47) - gift of property by the assessee to his sister out of natural love and affection - Clause (iii) of section 47 of the...

CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are...

Reassessment of the Bill of Entry - dues are within the Operational debt under IBC or not - Though the definition of “Operational Debt” in Section 5(21) of the IBC, 2016...

Sale of assets by NCLT-appointed liquidator for Company A in liquidation constitutes supply of goods/services under Section 7 of CGST Act 2017. AAR ruled that liquidator...

Quick Updates: