Textile Undertakings (Taking Over of Management) Act,1983

Act No : 40

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Section : AVOIDANCE OF VOLUNTARY TRANSFERS

SECTION 12: AVOIDANCE OF VOLUNTARY TRANSFERS

Any transfer of property, movable or immovable or any delivery of goods made by or on behalf of any of the textile companies (not being a transfer or delivery made in the ordinary course of its business or in favour of a purchaser for valuable consideration and in good faith),if made within a period of six months immediately preceding the appointed day, shall be void against the Central Government or the Custodian, as the case may be.

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