Resolution Professional Fails to Prove Fraudulent Intent; Transactions Not Set Aside as Preferential or Undervalued.

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Full Text of the Document

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....Setting aside the transaction - Preferential or undervalued - no case is made out by the RP that any business of the CD has been carried out with the intent to defraud the creditors or for any fraudulent purpose - Respondents are not a related party nor the transactions were made during relevant period - A so called alleged violation of Section 43 or Section 45 or Section 46 cannot be termed to be made for fraudulent purpose....