Transfer by Corporate Debtor resulting into value enhancement outside ambit of section 43 of IBC: NCLT Mumbai

Anish Niranjan Nanavaty Vs China Development Bank & Anr (NCLT Mumbai) Transfer by Corporate Debtor resulting into value enhancement outside ambit of section 43 of IBC: NCLT Mumbai NCLT Mumbai held that any transfer made by the Corporate Debtor which results in value enhancement would be excluded from the ambit of Section 43 of the Insolvency and Bankruptcy Code, 2016. Facts- The Corporate Debtor, Reliance Communications Limited, had availed certain facilities in the form of a Term Loan advanced by the Respondents, China Development Bank & Anr. In view of the defaults thereunder, the Re...