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Section 323 – THE COMPANIES (COURT) RULES, 1959

323. Books to be kept by the liquidator

(1) The liquidator shall keep proper books of account showing all receipts and payments made by him in the course of’ the liquidation.


(2) In a creditors’ voluntary winding-up, he shall keep such books as the Committee of Inspection, or if there is no such committee, as the creditors, direct, and submit all the books and accounts and documents and papers in his possession relating to his office as liquidator or to the company, to the Committee of Inspection, or if there is none, to the creditors whenever required by the Committee or creditors as the case may be.


(3) In addition to the books of account, the liquidator shall keep a record book in which shall be entered all minutes of proceedings and the resolutions passed at any meeting of the creditors or contributories or of the Committee of Inspection, particulars of all his transactions and negotiations in relation to the winding-up and all such matters other than matters of account as may be necessary to furnish a correct view of’ the administration of company’s affairs. He shall also keep a book showing the dates at which all notices to creditors and shareholders were sent out and posted. The person who dispatched the notices, shall initial the entries in the book relating thereto.


(4) The accounts of the liquidator shall be open to the inspection of every creditor or contributory during office hours upon payment of a fee of Re. 1 for every hour of inspection or part thereof.

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