Section 21 in Tamil Nadu Debt Conciliation Act, 1936
21. Alienation made with sanction of board not to be considered as a fraudulent preference.
- Any alienation of land for a fair price made with the sanction of the hoard in pursuance of, or to carry out, the agreement mentioned in section 14 shall not be considered as a fraudulent preference under the Presidency Towns Insolvency Act, 1909 (Central Act ... of 1909) and the Provincial Insolvency Act, 1920 (Central Act ... of 1920), nor shall such alienation be voidable under section 53 of the Transfer of Property Act, 1882 (Central Act... of 1882).
