'release by transferee of property previously transferred to such transferee in a transaction' means if any transaction happened previously in which property of the company was transferred to the person and now he is transferring the property again to the Company it will be included in 'new value'. For example if in a transaction A ltd transferred its property of Rs. 1 Lakh to B and B has transferred it again to A Ltd. this will be considered as new value and security interest created for this will not be considered as preferential transaction.

Answer given by Shubhamm Sir at 23-Nov-2022 09:36 PM