Regulation 41 - Preferential and other transactions
Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 Chapter VIII VALUATION AND INFORMATION MEMORANDUM
Contents
Circulars
Acts
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Preferential transactions require the resolution professional to assess and seek adjudicatory relief within prescribed pre pack timelines. Resolution professional must assess whether the corporate debtor has been subject to preferential or other avoidable transactions under the Code and form ... Summary
Preferential transactions require the resolution professional to assess and seek adjudicatory relief within prescribed pre pack timelines.
Resolution professional must assess whether the corporate debtor has been subject to preferential or other avoidable transactions under the Code and form an opinion by the thirtieth day of the pre pack commencement; if suspected, make a determination by the forty fifth day with intimation to the Board and, after such determination, apply to the Adjudicating Authority for appropriate relief by the sixtieth day of the pre pack commencement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.