https://www.taxtmi.com/caselaws?id=104493 Transfers executed shortly before commencement of winding up were examined under the Companies Act 1956 provisions rendering pre-winding dispositions void if not in the ordinary course of business or not made in good faith for valuable consideration; the court found the deeds were within the relevant pre-winding period, lacked consideration, lacked required corporate formalities, and evidenced an intention to prefer certain creditors. Applying the burden of proof and avoidance principles, the court concluded absence of bona fides and preferential intent, annulled the sale deeds, and directed the official liquidator to take possession of the properties. en-us Fri, 02 Aug 1996 00:00:00 +0530 Wed, 29 Feb 2012 12:52:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104493 Transfers executed shortly before commencement of winding up were examined under the Companies Act 1956 provisions rendering pre-winding dispositions void if not in the ordinary course of business or not made in good faith for valuable consideration; the court found the deeds were within the relevant pre-winding period, lacked consideration, lacked required corporate formalities, and evidenced an intention to prefer certain creditors. Applying the burden of proof and avoidance principles, the court concluded absence of bona fides and preferential intent, annulled the sale deeds, and directed the official liquidator to take possession of the properties. Case-Laws Companies Law Fri, 02 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104493