Bare ActsCompanies Act, 1956

Section 531A

Avoidance of voluntary transfer

Amendment status not verified — confirm the current text below against the official source.

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 [the Tribunal] or the passing of a resolution for voluntary winding up of the company, shall be void against the liquidator.]

Section 531A – Companies Act, 1956 | DailyLaw.ai