164. (1) The bankruptcy trustee may apply to the Adjudicating Authority
for an order under this section in respect of an undervalued transaction
between a bankrupt and any person.
(2) The undervalued transaction referred to in sub-section (1) should have-
(a) been entered into during the period of two years ending on the filing of
the application for bankruptcy; and
(b) caused bankruptcy process to be triggered.
(3) A transaction between a bankrupt and his associate entered into during
the period of two years preceding the date of making of the application for
bankruptcy shall be deemed to be an undervalued transaction under this
section.
(4) On the application of the bankruptcy trustee under sub-section (1), the
Adjudicating Authority may-
(a) pass an order declaring an undervalued transaction void;
(b) pass an order requiring any property transferred as a part of an
undervalued transaction to be vested with the bankruptcy trustee as a part
of the estate of the bankrupt; and