State Act

54

Section 54. Avoidance of voluntary transfer.

THE INSOLVENCY ACT, 1955

Act no. 2 of 19561956In forceKerala (State Act)

54. 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 transferer is adjudged insolvent on a petition presented within two years after the date of the transfer, be voidable as against the receiver and may be annulled by the Court.