https://www.taxtmi.com/caselaws?id=279794 Transfers executed in early December 1990 were examined under the doctrine of fraudulent preference: transfers not made in good faith, not in the ordinary course of business, and not for valuable consideration within the statutory period before commencement of winding up are void. The analysis identifies absence of consideration, lack of corporate formalities, and contemporaneous agreements showing intent to prefer certain creditors, satisfying the statutory standard for annulment. Consequentially the sale deeds are treated as void and the official liquidator directed to take possession and deal with the property in accordance with law. en-us Fri, 02 Aug 1996 00:00:00 +0530 Fri, 05 Apr 2019 16:27:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279794 Transfers executed in early December 1990 were examined under the doctrine of fraudulent preference: transfers not made in good faith, not in the ordinary course of business, and not for valuable consideration within the statutory period before commencement of winding up are void. The analysis identifies absence of consideration, lack of corporate formalities, and contemporaneous agreements showing intent to prefer certain creditors, satisfying the statutory standard for annulment. Consequentially the sale deeds are treated as void and the official liquidator directed to take possession and deal with the property in accordance with law. Case-Laws Companies Law Fri, 02 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279794