LawgistThe Companies Act
329Transfers not in good faith to be voi
1[329. 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).
PART III.--Provisions applicable to every mode of winding up
- 324 Debts of all descriptions to be admitted to proo
- 325 Application of insolvency rules in winding up of insolvent companies
- 326 Overriding preferential payments
- 327 Preferential payments
- 328 Fraudulent preferenc
- 329 Transfers not in good faith to be voi
- 330 Certain transfers to be void
- 331 Liabilities and rights of certain persons fraudulently preferred
- 332 Effect of floating charge
- 333 Disclaimer of onerous property
- 334 Transfers, etc., after commencement of winding up to be void
- 335 Certain attachments, executions, etc., in winding up by Tribunal to be voi
- 336 Offences by officers of companies in liquidation
- 337 Penalty for frauds by officers
- 338 Liability where proper accounts not kep
- 339 Liability for fraudulent conduct of busines
- 340 Power of Tribunal to assess damages against delinquent directors, et
- 341 Liability under sections 339 and 340 to extend to partners or directors in firms or companie
- 342 Prosecution of delinquent officers and members of company
- 343 Company Liquidator to exercise certain powers subject to sanction
- 344 Statement that company is in liquidation
- 345 Books and papers of company to be evidence
- 346 Inspection of books and papers by creditors and contributories
- 347 Disposal of books and papers of compan
- 348 Information as to pending liquidations
- 349 Official Liquidator to make payments into public account of India
- 350 Company Liquidator to deposit monies into scheduled ban
- 351 Liquidator not to deposit monies into private banking account
- 352 Company Liquidation Dividend and Undistributed Assets Accoun
- 353 Liquidator to make returns, etc
- 354 Meetings to ascertain wishes of creditors or contributorie
- 355 Court, tribunal or person, etc., before whom affidavit may be sworn
- 356 Power of Tribunal to declare dissolution of company void
- 357 Commencement of winding up by Tribunal
- 358 Exclusion of certain time in computing period of limitation
