Quick Navigation
Section 46 - Insolvency and Bankruptcy Code Act, 2016
46. Relevant 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.
Related Sections
- Section 72: Punishment for wilful and material omissions from statements relating to affairs of corporate debtor
- Section 97: Appointment of resolution professional
- Section 10: Initiation of corporate insolvency resolution process by corporate applicant
- Section 162: Disclaimer of leaseholds
- Section 43: Preferential transactions and relevant time
Related Acts
* Only for reference.