https://www.taxtmi.com/acts?id=17627 If a winding-up transaction is invalid as a fraudulent preference of a person with an interest in mortgaged or charged property, that person is subject to the same liabilities and entitled to the same rights as if personally liable as a surety, limited to the mortgage or charge or the value of the interest, whichever is less. The interest's value is determined at the transaction date as if free of encumbrances except those attaching to the mortgage or charge. The Tribunal may determine disputes between payee and surety or guarantor, grant relief, and permit impleader; this framework applies mutatis mutandis to non-payment transactions. en-us Sat, 02 Mar 2013 15:36:17 +0530 Sat, 13 Dec 2025 10:52:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17627 If a winding-up transaction is invalid as a fraudulent preference of a person with an interest in mortgaged or charged property, that person is subject to the same liabilities and entitled to the same rights as if personally liable as a surety, limited to the mortgage or charge or the value of the interest, whichever is less. The interest's value is determined at the transaction date as if free of encumbrances except those attaching to the mortgage or charge. The Tribunal may determine disputes between payee and surety or guarantor, grant relief, and permit impleader; this framework applies mutatis mutandis to non-payment transactions. Act-Rules Companies Law Sat, 02 Mar 2013 15:36:17 +0530 https://www.taxtmi.com/acts?id=17627