(1) In an application for avoiding a transaction at undervalue, the liquidator or the resolution professional, as the case may be, shall demonstrate that—
(i) such transaction was made with any person within the period of one year preceding the insolvency commencement date; or
(ii) such transaction was made with a related party within the period of two years preceding the insolvency commencement date.
IBC-Enforcement Notification [S.O.3687(E)] dated 09/12/2016
Circular pertaining to Valuation required under the provisions of the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016 dated 16.09.2019