Unilateral Bank Transfer Not preferred

The National Company Law Tribunal, Ahmedabad Bench, held that a unilateral transfer of funds by a bank from the corporate debtor's account cannot be treated as a preferential transaction under Sections 43 and 44 of the Insolvency and Bankruptcy Code unless it is established that the corporate debtor itself gave the preference. 

Since the statutory ingredients of a preferential transaction were absent, the avoidance application was dismissed.