https://www.taxtmi.com/caselaws?id=302297 The Tribunal, in a case concerning fraudulent and preferential transactions under the Insolvency and Bankruptcy Code, 2016, found the ex-director of the corporate debtor liable for non-disclosure and questionable transactions with related parties. The ex-director's lack of cooperation and transparency led to suspicions of fraudulent intent, triggering legal actions under relevant sections of the Code. The Bench directed the ex-director to return the transferred funds within a specified timeframe to rectify the irregularities, emphasizing the importance of compliance and transparency in the corporate insolvency resolution process. en-us Wed, 12 Jan 2022 00:00:00 +0530 Fri, 13 May 2022 21:04:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302297 The Tribunal, in a case concerning fraudulent and preferential transactions under the Insolvency and Bankruptcy Code, 2016, found the ex-director of the corporate debtor liable for non-disclosure and questionable transactions with related parties. The ex-director's lack of cooperation and transparency led to suspicions of fraudulent intent, triggering legal actions under relevant sections of the Code. The Bench directed the ex-director to return the transferred funds within a specified timeframe to rectify the irregularities, emphasizing the importance of compliance and transparency in the corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Wed, 12 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302297