New Delhi, Feb. 22 -- The Insolvency and Bankruptcy Board of India (IBBI) is sharing data on dubious transactions by defaulting promoters with the Directorate of Enforcement (ED), a move aimed at strengthening investigations under the anti-money laundering law and aiding recovery of siphoned assets.

In a statement on Sunday, the ED said it held discussions with the IBBI on the operation of the Insolvency and Bankruptcy Code (IBC) and its interface with the Prevention of Money Laundering Act (PMLA) that ED administers.

Avoidance transactions include preferential, undervalued, fraudulent and extortionate deals undertaken before companies entered bankruptcy. Such transactions worth Rs.4.28 trillion have so far been identified and placed be...