Deposit of company bills and securities: liquidator must lodge instruments with Reserve Bank for presentation and credit of proceeds. All bills, cheques, hundies, notes and similar securities payable to the company or to the liquidator must, as soon as they come into the liquidator's hands, be deposited with the Reserve Bank to be presented for acceptance and payment or for payment only, and the proceeds when realised shall be credited by the Bank to the account of the liquidator.
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Provisions expressly mentioned in the judgment/order text.
Deposit of company bills and securities: liquidator must lodge instruments with Reserve Bank for presentation and credit of proceeds.
All bills, cheques, hundies, notes and similar securities payable to the company or to the liquidator must, as soon as they come into the liquidator's hands, be deposited with the Reserve Bank to be presented for acceptance and payment or for payment only, and the proceeds when realised shall be credited by the Bank to the account of the liquidator.
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