https://www.taxtmi.com/acts?id=31028 Extortionate credit transactions under section 50 of the Insolvency and Bankruptcy Code, 2016 arise where a corporate debtor receives financial or operational debt on terms requiring exorbitant payment within the period starting from two years preceding the initiation date and ending on the insolvency commencement date. The liquidator or resolution professional may apply to the Adjudicating Authority for avoidance of such transaction, and the Board may specify the circumstances covered by this provision. Debt extended by a person providing financial services in compliance with applicable law is excluded. en-us Tue, 02 Jan 2018 14:32:33 +0530 Tue, 26 May 2026 11:53:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31028 Extortionate credit transactions under section 50 of the Insolvency and Bankruptcy Code, 2016 arise where a corporate debtor receives financial or operational debt on terms requiring exorbitant payment within the period starting from two years preceding the initiation date and ending on the insolvency commencement date. The liquidator or resolution professional may apply to the Adjudicating Authority for avoidance of such transaction, and the Board may specify the circumstances covered by this provision. Debt extended by a person providing financial services in compliance with applicable law is excluded. Act-Rules IBC Tue, 02 Jan 2018 14:32:33 +0530 https://www.taxtmi.com/acts?id=31028