NCLT directs repayment of preferential payment made to certain creditors

Ankur Kumar Vs Jitendra Kikavat & others (NCLT Mumbai) In the case of Ankur Kumar vs. Jitendra Kikavat & others (NCLT Mumbai), the National Company Law Tribunal (NCLT) dealt with multiple applications filed by the Resolution Professional (RP), Mr. Ankur Kumar, of Mahavir Roads and Infrastructure Private Limited (Corporate Debtor). These applications were filed under section 43 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to avoid preferential transactions conducted by the Corporate Debtor with various related parties. Background and Procedural History The Corporate Insolv...