IBC Avoidance Provisions Aim To Restore Corporate Debtor’s Estate: NCLT Kochi

Thiruvananthapuram, Jan 12 (KNN) The National Company Law Tribunal (NCLT) at Kochi has clarified that the avoidance provisions under the Insolvency and Bankruptcy Code (IBC) are designed to neutralise the preferential effect of certain transactions and restore the corporate debtor’s estate, rather than impose punitive liability on the beneficiary.  The observation was made by Judicial…

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