https://www.taxtmi.com/caselaws?id=794446 A purported transfer of company immovable property to promoters, recorded through resolutions and mutation entries without a registered conveyance, was treated as falling within fraudulent preference where winding-up proceedings were already in motion. The analysis emphasised that Section 531(1) of the Companies Act, 1956 protects creditors, and a shareholder-controlled attempt to appropriate company assets without proven consideration, disclosure, or good faith attracts the mischief of that provision. Applying the preponderance of probability standard, the transaction was stated to be void and the mutation entries reversible, with the company's name to be restored in the land records. en-us Thu, 25 Jun 2026 00:00:00 +0530 Mon, 06 Jul 2026 08:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794446 A purported transfer of company immovable property to promoters, recorded through resolutions and mutation entries without a registered conveyance, was treated as falling within fraudulent preference where winding-up proceedings were already in motion. The analysis emphasised that Section 531(1) of the Companies Act, 1956 protects creditors, and a shareholder-controlled attempt to appropriate company assets without proven consideration, disclosure, or good faith attracts the mischief of that provision. Applying the preponderance of probability standard, the transaction was stated to be void and the mutation entries reversible, with the company's name to be restored in the land records. Case-Laws Companies Law Thu, 25 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794446