S.

53 FRAUDULENT TRANSFER
MOSADIYAANA
URIMAI MAATRANGAL

SEC.53
S.53 CONSIST OF 2 RULES WHICH ARE

GIVEN BELOW:
I.. EVERY TRANSFER OF IMMOVABLE
PROPERTYMade with an intent to defeat or delay the
creditors of the transferor
Shall be voidable at the option of any
creditor so defeated or delayed.

SEC.53
This sub-section will not impair the rights of

a transferee in good faith and for

consideration.
This will not affect any law for time being in
force relating to insolvency.
A suit may be instituted by one creditor on
behalf of or for benefit of all the creditor.

SEC.53
II.. Every transfer of immovable propertyMade without consideration
With intent to defraud a subsequent transferee,
Shall be voidable at the option of such transferee
A transfer made without consideration shall not
be deemed to have been made with intent to
defraud buy reason only that a subsequent
transfer for consideration was made.

SEC.53
EBRAHIM BHAI VS. FULL BHAI:

in this case, a person who was leading a

life of dissipation transferred all his property
to his wife, so that he might not be tempted
to lead such a life in the future. But
unfortunately he drifted back to his old
ways, and began to contract heavy debts.

SEC.53
In a suit by his creditors to set aside the

transfer to his wife it was held that there was

no indebtedness at the time of the transfer,
the consideration involved was natural live
and affection and therefore no mala fide
could be presumed, merely because the
transfer might have prejudiced the claims of
subsequent creditors.

SEC.53

SEC.53