Application for avoidance of preferential transaction be filed by resolution professional only

Ramprasad Vishvanath Gupta Vs Dinesh Kumar Deora (NCLAT Delhi) NCLAT Delhi held that statutory provisions of section 43 of the Insolvency and Bankruptcy Code [IBC] empowers resolution professional to file application for avoidance of preferential transactions. Hence, application filed by homebuyers rightly not entertained. Facts- On an application filed by one Santosh Ananda Shetty and 66 other homebuyers as Financial Creditors in class, CIRP against the Corporate Debtor – Snehanjali and S.B. Developers Private Limited commenced by order dated 07.03.2024. Resolution Professional filed an...