Independent professional certification requires pleaded knowledge or complicity for criminal liability; untimely complaints remain barred by limitatio...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Section 531(1) protects creditors against transfers made within the statutory period as a fraudulent preference, and it can apply even where no formal conveyance is executed if title is effectively shifted through mutation entries. A company's immovable property was entered in the names of its promoters, who controlled the company, without disclosed consideration, valuation, or material supporting any quantified liability said to be owed to them. The absence of consideration and supporting records negatived good faith and showed an attempt to place the property beyond the reach of creditors. The transfer was declared void, and the mutation entries were directed to be reversed so the property stands restored in the company's name.
Section 531(1) protects creditors against transfers made within the statutory period as a fraudulent preference, and it can apply even where no formal conveyance is executed if title is effectively shifted through mutation entries. A company's immovable property was entered in the names of its promoters, who controlled the company, without disclosed consideration, valuation, or material supporting any quantified liability said to be owed to them. The absence of consideration and supporting records negatived good faith and showed an attempt to place the property beyond the reach of creditors. The transfer was declared void, and the mutation entries were directed to be reversed so the property stands restored in the company's name.
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