ArchiveMarch 2020

Supreme Court Rules on Preferential Transactions in Insolvency

By Umakanth Varottil
March 1, 2020
10 Min read

In Anuj Jain v. Axis Bank Limited (26 February 2020), the Supreme Court was concerned with the validity of certain transactions that the corporate debtor carried out in the run up to its insolvency. Briefly, the corporate debtor, Jaypee Infratech Limited (JIL), mortgaged some of its assets in favour of certain and banks and financial institutions for loans they advanced to JIL’s parent company...

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