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of <h1>Companies Act Section 328: Tribunal Can Void Fraudulent Preferences Before Liquidation to Protect Creditor Equality.</h1> Section 328 of the Companies Act, 2013 addresses fraudulent preference in the context of winding up a company. If a company gives preference to a creditor, surety, or guarantor, thereby improving their position before liquidation within six months of a winding-up application, the Tribunal can intervene. The Tribunal may declare such transactions invalid and restore the parties to their original positions if it determines the preference was fraudulent. This includes any transfer of property, delivery of goods, or payments made within the specified period before the winding-up application.
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