Avoidance transaction and fraudulent trading provisions expanded in insolvency law wording to cover related proceedings. The Insolvency and Bankruptcy Code (Amendment) Act, 2026 amends section 36 of the principal Act by substituting the existing reference to proceedings for avoidance of transactions with a broader reference covering proceedings in respect of an avoidance transaction, fraudulent or wrongful trading, and proceedings under section 47. The amendment expands the statutory wording to expressly include these additional categories of proceedings.
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Avoidance transaction and fraudulent trading provisions expanded in insolvency law wording to cover related proceedings.
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 amends section 36 of the principal Act by substituting the existing reference to proceedings for avoidance of transactions with a broader reference covering proceedings in respect of an avoidance transaction, fraudulent or wrongful trading, and proceedings under section 47. The amendment expands the statutory wording to expressly include these additional categories of proceedings.
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