Section 44 - Order in case of preferential transactions.

Preferential transactions: orders can revest property, impose payments or revive debts to restore creditor positions under insolvency law.

Adjudicating authority may, on application by the resolution professional or liquidator, order revesting of property, vesting of proceeds, discharge of security interests, payment of sums representing benefits, revival or reimposition of debts on guarantors, provision of security with equivalent priority, and specify the extent to which affected persons may prove claims for debts arising from or discharged by the preference. Protections exclude transfers and benefits acquired in good faith for value from third parties, but a rebuttable presumption of lack of good faith applies where the recipient had sufficient information of the insolvency process or is a related party, with public announcement constituting sufficient notice.