Regulation 41 - Preferential and other transactions
Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 Chapter VIII VALUATION AND INFORMATION MEMORANDUM
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Preferential transactions require the resolution professional to assess and seek adjudicatory relief within prescribed pre pack timelines. Resolution professional must assess whether the corporate debtor has been subject to preferential or other avoidable transactions under the Code and form an opinion by the thirtieth day of the pre pack commencement; if suspected, make a determination by the forty fifth day with intimation to the Board and, after such determination, apply to the Adjudicating Authority for appropriate relief by the sixtieth day of the pre pack commencement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Preferential transactions require the resolution professional to assess and seek adjudicatory relief within prescribed pre pack timelines.
Resolution professional must assess whether the corporate debtor has been subject to preferential or other avoidable transactions under the Code and form an opinion by the thirtieth day of the pre pack commencement; if suspected, make a determination by the forty fifth day with intimation to the Board and, after such determination, apply to the Adjudicating Authority for appropriate relief by the sixtieth day of the pre pack commencement.
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