What is Transfers not in good faith to be void Certain transfers to be void. Section 329 and 330 of Indian Companies Act 2013

Transfers not in good faith to be void and Certain transfers to be void are defined under Section 329  and 330 of Indian Companies Act 2013. Provisions under this Section is:

Section 329 of Indian Companies Act 2013 "Transfers not in good faith to be void"


 

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.

 

Section 330 of Indian Companies Act 2013 "Certain transfers to be void"

Any transfer or assignment by a company of all its properties or assets to trustees for the benefit of all its creditors shall be void.

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