Fun & Feast Ltd (FFL) was a well to do Company with its resorts operating in two locations near Chennai. However, after COVID the Company was unable to recover financially and was referred to insolvency proceedings b
CS Professional · Multidisciplinary Case Studies · PYQS · December 2023
Fun & Feast Ltd (FFL) was a well to do Company with its resorts operating in two locations near Chennai. However, after COVID the Company was unable to recover financially and was referred to insolvency proceedings by its creditors. Roop, an Insolvency Professional, was appointed to sell the property of Fun and Feast Ltd. (FFL). He finds that an undervalued transaction was made by the FFL with Tummarsi (a related party of director), in six months preceding the insolvency commencement date. Examine the validity of such transaction by FFL with Tummarsi.
Topics: Insolvency and Bankruptcy Code
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