2025 (11) TMI 442

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....EMBER (TECHNICAL) AND ARUN BAROKA, MEMBER (TECHNICAL) For the Appellant : Present but appearance not marked. For the Respondent : Mr. Abhijeet Sinha, Sr. Advocate with Mr. Santosh Kumar, Mr. Abhijeet Sarkar, Mr. Artira Basu and Mr. Saikat Sarkar, Advocates. ORDER Heard Counsel for the Appellant as well as Counsel for the Respondent. 2. This Appeal has been filed against an Order dat....

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.... Transaction Audit Report the said transaction was held to be a Preferential Transaction, hence the Adjudicating Authority ought not to have rejected the Application. 4. We have considered the submissions of Counsel for the Appellant and perused the record. 5. Adjudicating Authority has returned following finding in Paragraphs 7.2 to 7.5, which are as under: "7.2. It has been stated....

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.... valuation report. Obviously, he has arrived the value based on net asset value method. 7.5. No adverse remarks have been placed by the statutory Auditor of the company of this transaction though he may be the Auditor of all the three companies. No remark/enquiry has been made by any other statutory authorities with regard to the transaction in question. Nothing has been placed on record ....