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<h1>Liquidators Must Submit Biannual Account Statements Under Section 462 of the Companies Act, 1956</h1> Section 462 of the Companies Act, 1956, mandates that a liquidator must present an account of receipts and payments to the Tribunal at least twice a year. The account must be in a prescribed form, verified by a declaration, and submitted in duplicate. The Tribunal audits the account and may request additional information or inspect the liquidator's records. Post-audit, one copy is filed with the Tribunal and another with the Registrar, accessible to interested parties. For government companies, copies are also sent to relevant government members. The liquidator must distribute printed copies of the audited account or summary to creditors and contributors, unless exempted by the Tribunal.