Section – 50 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Extortionate credit transactions. 50. (1) Where the corporate debtor has been a party to an extortionate credit transaction involving the receipt of financial or operational debt during the period within two years… Read More »
Section – 49 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Extortionate credit transactions. 50. (1) Where the corporate debtor has been a party to an extortionate credit transaction involving the receipt of financial or operational debt during the period within two years… Read More »
Section – 48 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Order in cases of undervalued transactions. 48. (1) The order of the Adjudicating Authority under sub-section (1) of section 45 may provide for the following:— (a) require any property transferred as part… Read More »
Section – 47 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Application by creditor in cases of undervalued transactions. 47. (1) Where an undervalued transaction has taken place and the liquidator or the resolution professional as the case may be, has not reported… Read More »
Section – 46 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Relevant period for avoidable transactions. 46. (1) In an application for avoiding a transaction at undervalue, the liquidator or the resolution professional, as the case may be, shall demonstrate that— (i) such… Read More »
Section – 45 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Avoidance of undervalued transactions. 45. (1) If the liquidator or the resolution professional, as the case may be, on an examination of the transactions of the corporate debtor referred to in sub-section… Read More »
Section – 44 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Order in case of preferential transactions. 44. (1) The Adjudicating Authority, may, on an application made by the resolution professional or liquidator under sub-section (1) of section 43, by an order :… Read More »
Section – 43 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Preferential transactions and relevant time. 43. (1) Where the liquidator or the resolution professional, as the case may be, is of the opinion that the corporate debtor has at a relevant time… Read More »
Section – 42 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Appeal against the decision of Liquidator. 42. A creditor may appeal to the Adjudicating Authority against the decision of the liquidator rejecting the claims within fourteen days of the receipt of such… Read More »
Section – 41 of Insolvency and Bankruptcy Code 2016 [ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ] Determination of valuation of claims. 41. The liquidator shall determine the value of claims admitted under section 40 in such manner as may be specified by the Board.