Arcelormittal India Private Limited vs Satish Kumar Gupta on 4 October, 2018
Equivalent citations: AIR
Arcelormittal India Private Limited vs Satish Kumar Gupta on 4 October, 2018
Author: R.F
Learned counsel for the Appellant submitted that the Corporate Debtor
made preferential transaction of in favour of the 2nd Respondent by executing a
Sale Deed ... Sale Deed to
14.10.2016.
5. Section 43 relates to 'Preferential transactions and relevant time', which is
as follows:
"43. Preferential transactions
corporate debtor in which a preferential transaction,
undervalued transaction, extortionate credit transaction or
fraudulent transaction has taken place and in respect of which ... this clause shall not apply if a preferential
transaction, undervalued transaction, extortionate credit
transaction or fraudulent transaction has taken place prior to
the acquisition
management or control of a corporate debtor
in which a preferential transaction,
undervalued transaction, extortionate credit
Company Appeal (AT) (Insolvency
management or
control of a corporate debtor in which a
preferential transaction, undervalued
transaction, extortionate credit transaction or
Company Appeals (AT) (Insolvency
management or
control of a corporate debtor in which a
preferential transaction, undervalued
Company Appeal (AT) (Insolvency) No. 184 of 2018
-12-
transaction, extortionate credit
assessee is not a
trading transaction but these were allotted directly by the company
under the preferential issue and hence, the role of intermediate ... shares of M/s Rutron International Ltd. much less the specific
transaction of preferential issue allotment of shares by the company
itself to the assessee
assessee is not a trading transaction but these were allotted
directly by the company under the preferential issue and hence, the role of
intermediate ... shares of M/s Rutron International Ltd. much
less the specific transaction of preferential issue allotment of shares by the
company itself to the assessee
Soni, Jaipur.
is not a trading transaction but these were allotted directly by the
company under the preferential issue and hence, the role of
intermediate ... shares of M/s Rutron
International Ltd. much less the specific transaction of preferential
issue allotment of shares by the company itself to the assessee