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of <h1>Section 50 of Insolvency Code: Liquidator Can Void Extortionate Credit Deals Made 2 Years Before Insolvency Start</h1> Section 50 of the Insolvency and Bankruptcy Code, 2016 addresses extortionate credit transactions. If a corporate debtor engaged in such a transaction involving financial or operational debt within two years before the insolvency commencement date, the liquidator or resolution professional can apply to the Adjudicating Authority to avoid the transaction if it involved exorbitant payments. The Board may define circumstances for such transactions. Debts extended by financial service providers in compliance with applicable laws are not considered extortionate.
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