Section – 48 of Insolvency and Bankruptcy Code 2016

By | December 11, 2016
(Last Updated On: December 11, 2016)

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 of the transaction, to be vested in the corporate debtor;
(b)release or discharge (in whole or in part) any security interest granted by the corporate debtor;
(c)require any person to pay such sums, in respect of benefits received by such person, to the liquidator or the resolution professional as the case may be, as the Adjudicating Authority may direct; or
(d)require the payment of such consideration for the transaction as may be determined by an independent expert.

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