The Companies Act, 1956
531A. Avoidance of voluntary transfer.
2[531A. Avoidance of voluntary transfer.-
Any transfer of property movable or immovable, or any delivery of goods, made by a company, not being a transfer or delivery made in the ordinary course of its business or in favour of a purchaser or encumbrancer in good faith and for valuable consideration, if made within a period of one year before the presentation of a petition for winding up by 1[theTribunal] or the passing of a resolution for voluntary winding up of the company, shall be void against the liquidator.]
1. Subs. by Act 11 of 2003, sec. 94, “or subject to the supervision of the Court”.
2. Ins. by Act 65 of 1960, sec. 185 (w.e.f. 28-12-1960)
