(1) In an application for 2[avoidance of an undervalued transaction], the liquidator or the resolution professional, as the case may be, shall demonstrate that—
(i) such transaction was made with any person within the 3[period starting from] one year preceding the 4[initiation date and ending on the insolvency commencement date]; or
(ii) such transaction was made with a related party within the 3[period starting from] two years preceding the 4[initiation date and ending on 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.
Footnotes in the official text
- 1.Subs. by Act 6 of 2026, s. 27, for “avoidable” (w.e.f. 26-05-2026).
- 2.Subs. by s. 27, ibid., for “avoiding a transaction at undervalue” (w.e.f. 26-05-2026).
- 3.Subs. by s. 27, ibid., for “period of” (w.e.f. 26-05-2026).
- 4.Subs. by s. 27, ibid., for “insolvency commencement date” (w.e.f. 26-05-2026).