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Statutory Provisions

Home Acts & Rules Bill Bills COMPANIES BILL, 2011 Chapters List Chapter XX - Part III Provisions applicable to every mode of winding up This

Clause 329 - Transfers not in good faith to be void. - COMPANIES BILL, 2011

COMPANIES BILL, 2011
Chapter XX - Part III
Provisions applicable to every mode of winding up
  • Contents

Transfers not in good faith to be void.

329. 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 encumbrance 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 Company Liquidator.

 
 
 
 

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