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[Cites 0, Cited by 0] [Section 164] [Entire Act]

Union of India - Subsection

Section 164(5) in Insolvency And Bankruptcy Code, 2016

(5)The order under clause (a) of sub-section (4) shall not be passed if it is proved by the bankrupt that the transaction was undertaken in the ordinary course of business of the bankrupt:Provided that the provisions of this sub-section shall not be applicable to undervalued transaction entered into between a bankrupt and his associate under sub-section (3) of this section.