Avoidance application under Sections 43, 45, 49 and 66 of IBC is not maintainable merely on the basis of a transaction audit report without the RP/Liquidator independently examining the Corporate Debtor’s records and forming an opinion on the impugned transactions – Kamalesh Kumar Singhania (Liquidator) Vs. Khaitan (India) Ltd. and Ors. – NCLT Hyderabad Bench

Avoidance application under Sections 43, 45, 49 and 66 of IBC is not maintainable merely on the basis of a transaction audit report without the RP/Liquidator independently examining the Corporate Debtor’s records and forming an opinion on the impugned transactions – Kamalesh Kumar Singhania (Liquidator) Vs. Khaitan (India) Ltd. and Ors. – NCLT Hyderabad Bench

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Source: Ibclaw
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