https://www.taxtmi.com/caselaws?id=380688 The Tribunal found that the respondents engaged in preferential, fraudulent, and undervalued transactions. An order under Section 19(3) of the I&B Code was issued, directing ex-promoters/directors to cooperate with the Liquidator. Transactions falling under Sections 45(2)(b) and 43(1)(a) of the I&B Code were identified, and respondents were instructed to return siphoned sums and benefits received. Failure to comply would lead to penal actions under Sections 70-73 of the Code. MA 436 of 2018 was granted. en-us Tue, 07 May 2019 00:00:00 +0530 Mon, 27 May 2019 07:19:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380688 The Tribunal found that the respondents engaged in preferential, fraudulent, and undervalued transactions. An order under Section 19(3) of the I&B Code was issued, directing ex-promoters/directors to cooperate with the Liquidator. Transactions falling under Sections 45(2)(b) and 43(1)(a) of the I&B Code were identified, and respondents were instructed to return siphoned sums and benefits received. Failure to comply would lead to penal actions under Sections 70-73 of the Code. MA 436 of 2018 was granted. Case-Laws Insolvency and Bankruptcy Tue, 07 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380688