Certain transfers to be null and void
AI Assist
Summary
After an order or an official notice under this Chapter, any transfer of the property mentioned is ignored for the Chapter's proceedings. If that property is later forfeited to the Central Government, the transfer is treated as null and void. Transfers made after the order or notice do not protect the transferee.
Example
Priya receives an official notice that her shop is subject to this Chapter. She then transfers the shop to Rohan. For the proceedings under this Chapter the transfer will be ignored; if the shop is later forfeited to the Central Government the transfer will be deemed null and void.
Bare Act
Enacted textWhere after the making of an order under sub-section (1) of section 117 or the issue of a notice under section 119, any property referred to in the said order or notice is transferred by any mode whatsoever such transfers shall, for the purposes of the proceedings under this Chapter, be ignored and if such property is subsequently forfeited to the Central Government under section 120, then, the transfer of such property shall be deemed to be null and void.
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