Costing Standards Accounting Standards E-Forms

The Companies Act, 1956

Winding Up (Section 425 to 560)

Secton 531A Avoidance of voluntary transfer.

Secton 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 encumbrances 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 or subject to the supervision of the Tribunal or the passing of a resolution for voluntary winding up of the company, shall be void against the liquidator.