Section 53 of the Provincial Insolvency Act, 1920 – Avoidance of voluntary transfer

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Section 53: Avoidance of voluntary transfer

Any transfer of property not being a transfer made before and in consideration of marriage or made in favour of a purchaser or incumbrancer in good faith and for valuable consideration shall, if the transferor is adjudged insolvent within two years after the date of the transfer, be void able as against the receiver and may be annulled by the Court.

Source: official text of The Provincial Insolvency Act, 1920 as published on India Code (PDF). All sections of the Provincial Insolvency Act, 1920.

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