https://www.taxtmi.com/caselaws?id=412583 The Tribunal upheld the Adjudicating Authority's decision that the Appellant engaged in preferential transactions by squaring off an unsecured loan against receivables, violating the Insolvency and Bankruptcy Code. The Appellant was directed to contribute the amount involved to the Corporate Debtor's assets. Additionally, the sale of a car by the Appellant during the moratorium period was deemed fraudulent and undervalued, with the Appellant instructed to pay the difference to the Corporate Debtor. The Tribunal dismissed the claim of violation of natural justice and remitted the matter for further action according to the Resolution Plan. en-us Mon, 20 Sep 2021 00:00:00 +0530 Wed, 22 Sep 2021 06:17:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412583 The Tribunal upheld the Adjudicating Authority's decision that the Appellant engaged in preferential transactions by squaring off an unsecured loan against receivables, violating the Insolvency and Bankruptcy Code. The Appellant was directed to contribute the amount involved to the Corporate Debtor's assets. Additionally, the sale of a car by the Appellant during the moratorium period was deemed fraudulent and undervalued, with the Appellant instructed to pay the difference to the Corporate Debtor. The Tribunal dismissed the claim of violation of natural justice and remitted the matter for further action according to the Resolution Plan. Case-Laws Insolvency and Bankruptcy Mon, 20 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412583