Section 329 of Companies Act, 2013 – Transfers not in good faith to be void

  • Updated Till : April 03, 2020

SECTION 329. TRANSFERS NOT IN GOOD FAITH TO BE VOID

[Effective from 15th December, 2016]

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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