Transfers to defraud revenue void.

Where during the pendency of any proceeding under this Act or under the Act repealed by section 81 of Act No 5 of 1995 or the Act repealed by this Act or under the Chhattisgarh Land Revenue Code, 1959 (No. 20 of 1959) any dealer creates a charge on or parts with the possession by way of sale, mortgage, gift, exchange or any other mode of transfer whatsoever of any of his assets in favour of any other person with the intention to defraud revenue, such charge or transfer shall be void as against any claim in respect of any tax or any other sum payable by the dealer as a result of the completion of such proceeding under this Act or under the Act repealed by section 81 of Act No 5 of 1995 or the Act repealed by this Act or in pursuance of such proceeding under the Chhattisgarh Land Revenue Code, 1959 (No. 20 of 1959).