Rules and Regulations of India

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Section 288 – THE COMPANIES (COURT) RULES, 1959

288. Bills, cheques and securities to be deposited into Bank

All bills, cheques, hundies, notes and other securities of a like nature payable to the company or to the Official Liquidator thereof shall, as soon as they come into the hands of the Official Liquidator, be deposited by him with the 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 Official Liquidator.

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