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        Companies Law

        Rule 293 - Investment of moneys.

        Company Court Rules, 1959
        Chapter 01

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        Investment of surplus funds: require secure interest-bearing placements in government securities or sanctioned bank deposits. Monies not immediately required for winding-up must be invested in Government securities or interest-bearing deposits with the State Bank of India, or, with prior Court sanction, in deposits in other scheduled banks, and all such investments must be in the name of the Official Liquidator as Official Liquidator of the company to which the funds belong.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Investment of surplus funds: require secure interest-bearing placements in government securities or sanctioned bank deposits.

                              Monies not immediately required for winding-up must be invested in Government securities or interest-bearing deposits with the State Bank of India, or, with prior Court sanction, in deposits in other scheduled banks, and all such investments must be in the name of the Official Liquidator as Official Liquidator of the company to which the funds belong.


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