https://www.taxtmi.com/caselaws?id=441377 The Tribunal found that the transactions conducted by the corporate debtor were preferential transactions under Section 43 of the Insolvency and Bankruptcy Code. It was determined that the Resolution Professional properly identified and applied the legal framework in deeming these transactions as preferential, despite arguments that they were in the ordinary course of business. The Tribunal upheld the Adjudicating Authority's order directing repayment of the amounts to the corporate debtor, emphasizing the importance of adhering to the legal framework governing preferential transactions. en-us Fri, 04 Aug 2023 00:00:00 +0530 Tue, 08 Aug 2023 07:27:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441377 The Tribunal found that the transactions conducted by the corporate debtor were preferential transactions under Section 43 of the Insolvency and Bankruptcy Code. It was determined that the Resolution Professional properly identified and applied the legal framework in deeming these transactions as preferential, despite arguments that they were in the ordinary course of business. The Tribunal upheld the Adjudicating Authority's order directing repayment of the amounts to the corporate debtor, emphasizing the importance of adhering to the legal framework governing preferential transactions. Case-Laws Insolvency and Bankruptcy Fri, 04 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441377