https://www.taxtmi.com/caselaws?id=394064 The Tribunal upheld the Adjudicating Authority's decision that the transactions in question were preferential under the Insolvency and Bankruptcy Code. The appellants were ordered to refund the amounts with interest as the repayments to related parties were deemed to provide undue advantage and deviated from the ordinary course of business, violating equitable distribution principles in insolvency proceedings. The appeals were dismissed, and the appellants were directed to restore the transferred amounts within 30 days. en-us Wed, 13 Nov 2019 00:00:00 +0530 Sat, 05 Dec 2020 13:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394064 The Tribunal upheld the Adjudicating Authority's decision that the transactions in question were preferential under the Insolvency and Bankruptcy Code. The appellants were ordered to refund the amounts with interest as the repayments to related parties were deemed to provide undue advantage and deviated from the ordinary course of business, violating equitable distribution principles in insolvency proceedings. The appeals were dismissed, and the appellants were directed to restore the transferred amounts within 30 days. Case-Laws Insolvency and Bankruptcy Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394064