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of <h1>Section 46 of Insolvency Code: Preventing Undervalued Transactions in Liquidation, Ensuring Fairness and Accountability</h1> Section 46 of the Insolvency and Bankruptcy Code, 2016, addresses avoidable transactions during the liquidation process. It mandates that the liquidator or resolution professional must prove a transaction at undervalue occurred within one year before the insolvency commencement date if involving any person, or within two years if involving a related party. The Adjudicating Authority may appoint an independent expert to evaluate the transaction's value. This provision came into effect on December 15, 2016.
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