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Section 531A – The Companies Act,1956

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)

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The Companies Act, 1956

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