https://www.taxtmi.com/acts?id=31145 The bankruptcy trustee may apply to set aside preference transactions entered into within specified pre-bankruptcy periods; relief is available where the transaction contributed to triggering bankruptcy. The Adjudicating Authority may declare the transaction void, vest transferred property in the estate, and make orders to restore the pre-preference position. A rebuttable presumption of influencing desire applies where the recipient was an associate (other than solely by employment). A transaction is preferential if it puts a creditor, surety or guarantor in a better position on bankruptcy than they would otherwise have been. en-us Tue, 02 Jan 2018 16:41:48 +0530 Fri, 06 Dec 2019 12:40:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31145 The bankruptcy trustee may apply to set aside preference transactions entered into within specified pre-bankruptcy periods; relief is available where the transaction contributed to triggering bankruptcy. The Adjudicating Authority may declare the transaction void, vest transferred property in the estate, and make orders to restore the pre-preference position. A rebuttable presumption of influencing desire applies where the recipient was an associate (other than solely by employment). A transaction is preferential if it puts a creditor, surety or guarantor in a better position on bankruptcy than they would otherwise have been. Act-Rules IBC Tue, 02 Jan 2018 16:41:48 +0530 https://www.taxtmi.com/acts?id=31145