Fraudulent intent not necessary for preferential transaction u/s 43 of IBC: NCLT [Read Order]

Transactions undertaken in ordinary course of business shall remain out of the scope of section 43 of IBC, rules NCLT
NCLT mumbai - fraudulent intent - preferential transaction - Section 43 of the Insolvency and Bankruptcy Code - taxscan

The Mumbai Bench of the National Company Law Tribunal ( NCLT ) held that fraudulent intent is not necessary to prove preferential transaction under Section 43 of the Insolvency and Bankruptcy Code, 2016 ( IBC ). The Application was filed by the Resolution Professional, Mr. Ankur Kumar, of M/s Mahavir Roads and Infrastructure Private Limited…

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