Section 117 in The Delhi Co-operative Societies Rules, 2007
117. Effect of winding up order on Antecedent Transactions.
(1)Any transfer of shares in a co-operative society under liquidation, made within six months next before the relevant date except transfer of shares to the deceased members, heirs or nominee, shall be void and not binding upon the liquidator.(2)Any transfer of property, movable or immovable delivery of goods, payment, execution or other acts relating to property made, taken or done by or against a cooperative society within six months next before the relevant date, which, had it been made, taken or done by or against an individual within three months before the presentation of an insolvency petition on which he is adjudged insolvent, would be deemed in his insolvency a fraudulent preference, shall in the event of the co-operative society being wound up, be deemed a fraudulent preference of its creditors and contributories and be invalid accordingly.
