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of <h1>Section 43 of Insolvency Code: Avoiding Preferential Transactions Favoring Certain Creditors Before Insolvency; Key Exceptions Explained.</h1> Section 43 of the Insolvency and Bankruptcy Code, 2016, addresses preferential transactions during the liquidation process. It allows a liquidator or resolution professional to seek the avoidance of transactions where a corporate debtor has given undue preference to certain creditors, sureties, or guarantors, enhancing their position over others. A preference is deemed if it involves asset transfers benefiting these parties over others in asset distribution. Exceptions include transfers made in the ordinary course of business or those securing new value. Preferences are relevant if given to related parties within two years or others within one year before insolvency commencement.
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