The Insolvency and Bankruptcy Code, 2016, envisages a robust mechanism for the maximization of the value of the assets of a corporate debtor, empowering the resolution professional to seek the avoidance of inherently detrimental transactions. Among these, undervalued transactions under Section 45 form a critical category, requiring meticulous judicial scrutiny to differentiate between legitimate commercial distress and malicious asset stripping. A recent and illuminating exposition of this dichotomy was delivered by the National Company Law Tribunal, Kochi Bench, in the matter of Piyush Kisanlal Jani (RP) v. Chuzattil Naryanana Manoj and Anr. (IA (IBC)/141/KOB/2025 in CP(IBC)/10/KOB/2024), decided on May 8, 2026. This article delves…
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