(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.
(2) The Adjudicating Authority may require an independent expert to assess evidence relating to the value of the transactions mentioned in this section.
Insolvency and Bankruptcy Code 2016
Section 41 Determination of valuation of claims
Section 42 Appeal against the decision of liquidator
Section 43 Preferential transactions and relevant time
Section 44 Orders in case of preferential transactions
Section 45 Avoidance of undervalued transactions
Section 46 Relevant period for avoidable transactions
Section 47 Application by creditor in cases of undervalued transactions
Section 48 Order in cases of undervalued transactions