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Section 12 – The Textile Undertakings (Taking Over of Management) Act,1983

The Textile Undertakings (Taking Over of Management) Act,1983

Section 12. Avoidance of voluntary transfers

Any transfer of property, movable or immovable, or any delivery of goods made by or on behalf of any of the textile companies (not being a transfer or delivery made in the ordinary course of its business or in favour of a purchaser for valuable consideration and in good faith), if made within a period of six months immediately preceding the appointed day, shall be void against the Central Government or the Custodian, as the case may be.

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The Textile Undertakings (Taking Over of Management) Act,1983

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