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Insolvency and BankruptcyJanuary 30, 2024Case LawsAT
The NCLT's finding that the trademark transaction was preferential and undervalued under Sections 43 and 45 of the IBC was overturned. The Resolution Professional (RP) had not filed an application asserting such claims, and there was no forensic audit evidence of preferential, undervalued, or fraudulent transactions. - The Appellant's claim to the trademark was upheld based on the supplemental agreement, and the NCLT's ruling against it was set aside. - AT
The NCLT's finding that the trademark transaction was preferential and undervalued under Sections 43 and 45 of the IBC was overturned. The Resolution Professional (RP) had not filed an application asserting such claims, and there was no forensic audit evidence of preferential, undervalued, or fraudulent transactions. - The Appellant's claim to the trademark was upheld based on the supplemental agreement, and the NCLT's ruling against it was set aside. - AT
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