Section 329 of Companies Act, 2013

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.

Complete: companies-act-2013