law: Companies Act, 2013 
  331.
  
    Liabilities
  
  and rights of certain persons fraudulently preferred.
  1.      Where a company is
  
  being wound up and anything made, taken or done after the commencement of this
  
  Act is invalid under section 328 as a fraudulent preference of a person
  
  interested in property mortgaged or charged to secure the company’s debt, then,
  
  without prejudice to any rights or liabilities arising, apart from this
  
  provision, the person preferred shall be subject to the same liabilities, and
  
  shall have the same rights, as if he had undertaken to be personally liable as
  
  a surety for the debt, to the extent of the mortgage or charge on the property
  
  or the value of his interest, whichever is less.
  2.      The value of the
  
  interest of the person preferred under sub-section (1 ) shall be determined
  
  as at the date of the transaction constituting the fraudulent preference, as if
  
  the interest were free of all encumbrances other than those to which the
  
  mortgage or charge for the debt of the company was then subject.
  3.      On an application
  
  made to the Tribunal with respect to any payment on the ground that the payment
  
  was a fraudulent preference of a surety or guarantor, the Tribunal shall have
  
  jurisdiction to determine any questions with respect to the payment arising
  
  between the person to whom the payment was made and the surety or guarantor and
  
  to grant relief in respect thereof, notwithstanding that it is not necessary so
  
  to do for the purposes of the winding up, and for that purpose, may give leave
  
  to bring in the surety or guarantor as a third party as in the case of a suit
  
  for the recovery of the sum paid.
  4.      The provisions of
  
  sub-section (3 ) shall apply mutatis mutandis in relation to
  
  transactions other than payment of money.