NCLT Ahmedabad allows liquidator's application to avoid preferential transactions totaling ₹39.59 lakhs made by Accent Packaging Pvt Ltd to related parties.
Tribunal directs five respondents, including directors and their relatives, to repay specific amounts received during the two-year look-back period preceding insolvency.
Order finds transactions violated Section 43 of IBC 2016 as they placed related parties in beneficial position compared to other creditors in liquidation.
Respondents must repay amounts with 9% interest from insolvency commencement date, with funds to be added to liquidation estate for distribution under Section 53.