Question

A preference shall be deemed to be given at a relevant time under the IBC a preference is given to a person other than a related party during the period of _____________

Q: A preference shall be deemed to be given at a relevant time under the IBC a preference is given to a

Section43Preferentialtransactionsandrelevanttime4Apreferenceshallbedeemedtobegivenatarelevanttimeifaitisgiventoarelatedpartyotherthanbyreasononlyofbeinganemployeeduringtheperiodoftwoyearsprecedingtheinsolvencycommencementdateorbapreferenceisgiventoapersonotherthanarelatedpartyduringtheperiodofoneyearprecedingtheinsolvencycommencementdate

A One year preceding the insolvency commencement date

B Two years preceding the insolvency commencement date

C One hundred and twenty days preceding the insolvency commencement date

D One year after the conclusion of the insolvency commencement date

E No such specific time period has been laid down under the Code

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Question

A preference shall be deemed to be given at a relevant time under the IBC a preference is given to a person other than a related party during the period of _____________

Solution

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