Rules and Regulations of India

Law Library of Rules and Regulations of India

Section 325 – THE COMPANIES (COURT) RULES, 1959

325. Bills, cheques and securities to be deposited in Bank

All bills, cheques, hundies, notes and other securities of a like nature payable to the company or to the liquidator thereof shall, as soon as they come into the hands of the liquidator be deposited by him with the Reserve Bank for the purpose of being presented for acceptance and payment or for payment only as the case may be, and the proceeds when realized shall be credited by the Bank to the account of the liquidator.

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