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…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1599 + GST for 1 year

Subscribe Now