https://www.taxtmi.com/caselaws?id=785519 Preferential transactions were examined based on a transaction auditor report, with the report deemed diligent despite disclaimers and limited cooperation from suspended directors; consequences followed under Section 44 permitting recovery of benefits and restitution, and the transactions were characterized as preferential based on bank records. The directors bore the onus to prove the transfers were in the ordinary course of business under Section 43(3) and failed to do so, so the challenged transfers were ordered to be deposited back into the corporate estate. The deceased proprietor's heir as legal representative was held liable to the extent of inherited benefit. en-us Wed, 21 Jan 2026 00:00:00 +0530 Sat, 24 Jan 2026 08:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785519 Preferential transactions were examined based on a transaction auditor report, with the report deemed diligent despite disclaimers and limited cooperation from suspended directors; consequences followed under Section 44 permitting recovery of benefits and restitution, and the transactions were characterized as preferential based on bank records. The directors bore the onus to prove the transfers were in the ordinary course of business under Section 43(3) and failed to do so, so the challenged transfers were ordered to be deposited back into the corporate estate. The deceased proprietor's heir as legal representative was held liable to the extent of inherited benefit. Case-Laws IBC Wed, 21 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785519