Treatment of avoidance of transaction
Regulation 44AofInsolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
116[Treatment of avoidance of transaction The liquidator shall, 117[with the approval] of the 118[***] committee, provide in the application along with the final report filed under regulation 45 for the manner in which proceedings in respect of avoidance transactions, if any, under Chapter III or fraudulent or wrongful trading under Chapter VI of Part II of the Code, will be pursued after the dissolution or closure of liquidation process and the manner in which the proceeds, if any, from such proceedings shall be distributed.]