https://www.taxtmi.com/caselaws?id=408065 Transactions involving subsidiary share transfers, trade mark assignment and a master reseller arrangement may be treated as fraudulent and avoidable where management fails to produce original records, establish board approval, statutory filings or regulatory disclosure, and demonstrate that the dealings were genuine and in the ordinary course of business. Nominal-value asset assignments and arrangements diverting business control can indicate stripping of corporate assets. Where relevant compliance records are within management's special knowledge, non-production may justify an adverse inference and shift the burden to management. Objections based on missing originals, ordinary-course assertions or non-joinder need not bar restoration-oriented relief. en-us Fri, 07 May 2021 00:00:00 +0530 Mon, 31 May 2021 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408065 Transactions involving subsidiary share transfers, trade mark assignment and a master reseller arrangement may be treated as fraudulent and avoidable where management fails to produce original records, establish board approval, statutory filings or regulatory disclosure, and demonstrate that the dealings were genuine and in the ordinary course of business. Nominal-value asset assignments and arrangements diverting business control can indicate stripping of corporate assets. Where relevant compliance records are within management's special knowledge, non-production may justify an adverse inference and shift the burden to management. Objections based on missing originals, ordinary-course assertions or non-joinder need not bar restoration-oriented relief. Case-Laws Insolvency and Bankruptcy Fri, 07 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408065