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        Companies Law

        Rule 8 - Withdrawals from Bank.

        Companies (Official Liquidator’s Account) Rules, 1965
        Chapter 01

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        Withdrawals by official liquidator: funds must be drawn from Reserve Bank; payments above a prescribed cash limit require cheque. The rule requires that all moneys needed by the official liquidator for meeting liquidation expenses and cash payments be withdrawn from the Reserve Bank, and that any individual payment exceeding a small cash threshold must be made by cheque drawn against the official liquidator's Reserve Bank account.
                          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.

                                Withdrawals by official liquidator: funds must be drawn from Reserve Bank; payments above a prescribed cash limit require cheque.

                                The rule requires that all moneys needed by the official liquidator for meeting liquidation expenses and cash payments be withdrawn from the Reserve Bank, and that any individual payment exceeding a small cash threshold must be made by cheque drawn against the official liquidator's Reserve Bank account.


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