Section 13 in The Parel Investments and Trading Private Limited and Domestic Gas Private Limited (Taking Over of Management) Act, 1979
13. Avoidance of transfer or surrenderafter 29th December, 1977:
Any transfer of property, movable or immovable, or any deliveryof goods (other than a delivery made in the ordinary course of business) orrelinquishment or surrender of any; right or interest in respect of anyproperty under any arrangement secured by agreement or otherwise by either ofthe two companies or East Coast Gas Company (before its take over by ParelInvestments and Trading Private Limited) made at any time after the 29thDecember, 1977 (being the date on which the notice terminating the dealershipagreement with the relevant companies was made known) and before the appointedday shall be void against the Central Government or the Custodian, as the casemay; be, and notwithstanding anything contained in any other law or agreementor instrument relating to any; such property, right or interest, the CentralGovernment or the Custodian, as the case may be, shall, on and after theappointed day, be entitled to such property, right or interest on the sameterms and conditions on which either of the two companies or East Coast GasCompany would have been entitled to such property, right or interest if it hadnot transferred, delivered, relinquished or surrendered the same and this Acthad not been passed:Provided that nothing in thissection shall apply; to any property, goods, right or interest, transferred,delivered, relinquished or surrendered in good faith and for sufficientmonetary; consideration.
