https://www.taxtmi.com/caselaws?id=425992 Transfers identified from audited financial statements, bank records and the auditor's report were treated as preferential transactions under Section 43 of the Insolvency and Bankruptcy Code, 2016 because the liquidator established the statutory ingredients on relevant material. The tribunal noted that the adjudicating authority confined its finding to preferential avoidance and did not proceed on the other avoidance grounds criticised by the appellants. It also indicated that a challenge based only on the manner in which the audit material was collected or presented will not displace the finding unless legal infirmity is shown. en-us Tue, 02 Aug 2022 00:00:00 +0530 Thu, 04 Aug 2022 20:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425992 Transfers identified from audited financial statements, bank records and the auditor's report were treated as preferential transactions under Section 43 of the Insolvency and Bankruptcy Code, 2016 because the liquidator established the statutory ingredients on relevant material. The tribunal noted that the adjudicating authority confined its finding to preferential avoidance and did not proceed on the other avoidance grounds criticised by the appellants. It also indicated that a challenge based only on the manner in which the audit material was collected or presented will not displace the finding unless legal infirmity is shown. Case-Laws Insolvency and Bankruptcy Tue, 02 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425992