Maintenance of accounts requires the official liquidator to keep separate company accounts and a central cash book for cash transactions. Rule 3 requires the official liquidator to maintain a separate account for each company and to operate a central cash book in the Annexure form recording all cash receipts, remittances to the Reserve Bank, and payments to claimants, together with other books necessary to prepare a consolidated balance and enable periodical reconciliation of the balances in the accounts referred to in Rule 4.
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.
Maintenance of accounts requires the official liquidator to keep separate company accounts and a central cash book for cash transactions.
Rule 3 requires the official liquidator to maintain a separate account for each company and to operate a central cash book in the Annexure form recording all cash receipts, remittances to the Reserve Bank, and payments to claimants, together with other books necessary to prepare a consolidated balance and enable periodical reconciliation of the balances in the accounts referred to in Rule 4.
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