https://www.taxtmi.com/caselaws?id=467967 Fraudulent and preferential transaction findings under the Insolvency and Bankruptcy Code require reasoned findings on every statutory ingredient, supported by relevant material. An order based only on audit material, ex parte status, or unexplained financial entries cannot sustain a declaration under section 66. Likewise, a write-off of receivables or related accounting entries, without proof of a transfer conferring a better position on a creditor within the relevant period, does not by itself establish preference under section 43. The challenged findings were set aside to that extent, and the fraud issue was remitted for fresh adjudication with liberty to file a reply. en-us Wed, 28 Aug 2024 00:00:00 +0530 Fri, 10 Apr 2026 20:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467967 Fraudulent and preferential transaction findings under the Insolvency and Bankruptcy Code require reasoned findings on every statutory ingredient, supported by relevant material. An order based only on audit material, ex parte status, or unexplained financial entries cannot sustain a declaration under section 66. Likewise, a write-off of receivables or related accounting entries, without proof of a transfer conferring a better position on a creditor within the relevant period, does not by itself establish preference under section 43. The challenged findings were set aside to that extent, and the fraud issue was remitted for fresh adjudication with liberty to file a reply. Case-Laws IBC Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467967