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.]
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1. Subs. by Act 31 of 2016, s. 255 and the Eleventh Schedule, for section 329 (w.e.f. 15-11-2016).
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.