This article will teach you what preferential transactions are under the Insolvency & Bankruptcy Code (IBC). You will also learn how to draft an application in such circumstances and related procedures. So, if you are starting your journey as an insolvency professional or a lawyer, this guide will be handy.
Table of Contents
Introduction
Imagine a situation wherein a captain of the sinking ship, instead of ensuring an orderly rescue, secretly hands over all the lifeboats to a select few, leaving the rest stranded. Sounds unfair, right? Now, think of this happening in the corporate world—where a financially struggling company favors certain creditors while others are left high and dry.
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