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Companies Act, 1956

Sec 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 favor of a purchaser or encumbrance in good faith and for valuable consideration, if made within a period of one year before the presentation of petition for winding up by or subject to the supervision of the Court or the passing of a resolution for voluntary winding up of the company, shall be void against the liquidator.

Companies Act, 1956 Back

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