329.Substituted vide The Insolvency and Bankruptcy Code, 2016. To view the amendment,Click Here Any transfer of property, movable or immovable, or any delivery of goods, made by a company2(20) Company means a company incorporated under this Act or under any previous company law, not being a transfer or delivery made in the ordinary course of its business or in favour of a purchaser or encumbrancer 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 Tribunal2(90) Tribunal means the National Company Law Tribunal constituted under section 408 under this Act shall be void against the Company Liquidator2(23) Company Liquidator means a person appointed by the Tribunal as the Company Liquidator in accordance with the provisions of section 275 for the winding up of a company under this Act..
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.