This case involves multiple applications filed before the National Company Law Tribunal (NCLT), Mumbai Bench-I, primarily concerning preferential transactions under the Insolvency and Bankruptcy Code, 2016 (IBC) and the determination of the Insolvency Commencement Date (ICD). The Resolution Professional (RP) of Reliance Telecom Limited and Reliance Communications Limited filed applications (MA No. 3553 of 2019 and IA No. 3555 of 2019, respectively) alleging that certain payments made by the Corporate Debtor to China Development Bank (CDB) and Export Import Bank of China (Exim Bank) constituted preferential transactions under Section 43 of the IBC. These payments, totaling Rs. 117 Crores, were made prior to the commencement of the Corporate Insolvency Resolution Process (CIRP) and were intended to facilitate an Asset Monetization Process (AMP) and secure the withdrawal of an insolvency petition filed by CDB.

This case involves multiple applications filed before the National Company Law Tribunal (NCLT), Mumbai Bench-I, primarily concerning preferential transactions under the Insolvency and Bankruptcy Code, 2016 (IBC) and the determination of the Insolvency Commencement Date (ICD). The Resolution Professional (RP) of Reliance Telecom Limited and Reliance Communications Limited filed applications (MA No. 3553 of 2019 and IA No. 3555 of 2019, respectively) alleging that certain payments made by the Corporate Debtor to China Development Bank (CDB) and Export Import Bank of China (Exim Bank) constituted preferential transactions under Section 43 of the IBC. These payments, totaling Rs. 117 Crores, were made prior to the commencement of the Corporate Insolvency Resolution Process (CIRP) and were intended to facilitate an Asset Monetization Process (AMP) and secure the withdrawal of an insolvency petition filed by CDB.