LawgistThe Insolvency and Bankruptcy Code
46Relevant period for avoidable transactions
(1) In an application for avoiding a transaction at undervalue, the liquidator or the resolution professional, as the case may be, shall demonstrate that—
(i) such transaction was made with any person within the period of one year preceding the insolvency commencement date; or
(ii) such transaction was made with a related party within the period of two years preceding the insolvency commencement date.
(2) The Adjudicating Authority may require an independent expert to assess evidence relating to the value of the transactions mentioned in this section.
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CHAPTER III LIQUIDATION PROCESS
- 33 Initiation of liquidation
- 34 Appointment of liquidator and fee to be paid
- 35 Powers and duties of liquidator
- 36 Liquidation estate
- 37 Powers of liquidator to access information
- 38 Consolidation of claims
- 39 Verification of claims
- 40 Admission or rejection of claims
- 41 Determination of valuation of claims
- 42 Appeal against the decision of liquidator
- 43 Preferential transactions and relevant time
- 44 Orders in case of preferential transactions
- 45 Avoidance of undervalued transactions
- 46 Relevant period for avoidable transactions
- 47 Application by creditor in cases of undervalued transactions
- 48 Order in cases of undervalued transactions
- 49 Transactions defrauding creditors
- 50 Extortionate credit transactions
- 51 Orders of Adjudicating Authority in respect of extortionate credit transactions
- 52 Secured creditor in liquidation proceedings
- 53 Distribution of assets
- 54 Dissolution of corporate debtor
