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of <h1>Liquidator Must Deposit Funds in Public Account as per Companies Act; Exceptions for Deposit Insurance Corporation Act Payments.</h1> All funds received by the official liquidator, as mandated by the Companies Act, must be deposited into India's public account at the Reserve Bank under specified deposit categories. Exceptions include payments related to the Deposit Insurance Corporation Act, where the liquidator must pay the Corporation as required. Daily collections by the liquidator must be deposited into the account by the next working day, although deposits can be delayed until the amount exceeds Rs. 100.
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