https://www.taxtmi.com/caselaws?id=783936 An agreement to transfer secured assets after a demand notice and in breach of the SARFAESI restraint on dealing with such assets was unenforceable, so cancellation could not be sustained under undervalued-transaction provisions not properly pleaded. The record also showed a post-commencement restructuring involving related persons, a new LLP, and transfer of business and assets for nominal consideration, supporting a finding that the business was carried on to defeat creditors. On that basis, fraudulent trading was made out and the contribution directions were upheld. en-us Fri, 19 Dec 2025 00:00:00 +0530 Sat, 20 Dec 2025 11:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783936 An agreement to transfer secured assets after a demand notice and in breach of the SARFAESI restraint on dealing with such assets was unenforceable, so cancellation could not be sustained under undervalued-transaction provisions not properly pleaded. The record also showed a post-commencement restructuring involving related persons, a new LLP, and transfer of business and assets for nominal consideration, supporting a finding that the business was carried on to defeat creditors. On that basis, fraudulent trading was made out and the contribution directions were upheld. Case-Laws IBC Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783936