https://www.taxtmi.com/caselaws?id=780974 NCLAT dismissed the appeal and upheld the Adjudicating Authority's rejection of the liquidator's Section 66 claim, holding that settlement by the corporate debtor through transfer of group-company shares did not establish fraud or undervaluation. The Tribunal found the liquidator's presumption of fraud and under-valuation unsupported by circumstantial or direct evidence and reiterated that mere possibility or a transaction auditor's characterization as "preferential" cannot satisfy Section 66. The Adjudicating Authority committed no error in denying the application. en-us Thu, 20 Feb 2025 00:00:00 +0530 Mon, 10 Nov 2025 08:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780974 NCLAT dismissed the appeal and upheld the Adjudicating Authority's rejection of the liquidator's Section 66 claim, holding that settlement by the corporate debtor through transfer of group-company shares did not establish fraud or undervaluation. The Tribunal found the liquidator's presumption of fraud and under-valuation unsupported by circumstantial or direct evidence and reiterated that mere possibility or a transaction auditor's characterization as "preferential" cannot satisfy Section 66. The Adjudicating Authority committed no error in denying the application. Case-Laws IBC Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780974