Avoidance of voluntary transfers: pre-winding up transfers are void against the liquidator unless in ordinary course or for value. Section 531A renders transfers or deliveries of property or goods made by a company within the prescribed pre winding period void against the liquidator if they are not in the ordinary course of business and are not to a purchaser or encumbrancer acting in good faith and for valuable consideration, while excepting transactions made in the ordinary course or to bona fide purchasers or encumbrancers for value.