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of <h1>Section 51 of Insolvency Code: Actions on Extortionate Credit Transactions During Liquidation Process Explained</h1> Section 51 of the Insolvency and Bankruptcy Code, 2016, addresses the actions an Adjudicating Authority can take regarding extortionate credit transactions during the liquidation process. If the Authority finds that a credit transaction involved exorbitant payments by the corporate debtor, it can order the restoration of the pre-transaction position, set aside or modify the debt terms, require repayment of received amounts, or mandate the relinquishment of any security interest created as part of the transaction to the liquidator or resolution professional. This provision came into force on December 15, 2016.
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