Official Liquidator cash management: remit company realisations into central bank account, use cheques for disbursements and keep remittance records. The Official Liquidator must remit all moneys received to the public account in the Reserve Bank to an account in his official name, with daily realisations paid in by the next working day unless deferred until a modest threshold is met. Withdrawals for expenses or cash are made by cheque from that account, and payments above a modest amount are ordinarily by cheque. The Official Liquidator must keep a serially numbered remittance chalan book with Bank acknowledgments for all deposits, the form of which is settled in consultation with the Bank.
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Provisions expressly mentioned in the judgment/order text.
Official Liquidator cash management: remit company realisations into central bank account, use cheques for disbursements and keep remittance records.
The Official Liquidator must remit all moneys received to the public account in the Reserve Bank to an account in his official name, with daily realisations paid in by the next working day unless deferred until a modest threshold is met. Withdrawals for expenses or cash are made by cheque from that account, and payments above a modest amount are ordinarily by cheque. The Official Liquidator must keep a serially numbered remittance chalan book with Bank acknowledgments for all deposits, the form of which is settled in consultation with the Bank.
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