NCLT Dismisses Castall Technologies Preferential Transaction Application

NCLT Hyderabad dismissed Resolution Professional's application seeking recovery of ₹57.33 lakhs from 11 respondents for alleged preferential transactions.
Tribunal found transactions with related party MD were operational payments made in ordinary course of business during COVID period.
Payments to unrelated parties fell outside one-year look-back period under Section 43(4)(b) of IBC, making claims unsustainable.
RP failed to establish essential ingredients of preferential treatment under Section 43(2) for any of the impugned transactions.