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of <h1>Rule 10: Liquidators Must Invest Surplus Funds in Government Securities or Bank Deposits with Court Approval</h1> The Companies (Official Liquidator's Account) Rules, 1965, Rule 10 mandates that an official liquidator must invest surplus funds from a company in liquidation in government or trustee securities, or in interest-bearing deposits at the State Bank of India or other scheduled banks. Such investments require court permission and must be requested in writing. The Reserve Bank holds these securities on behalf of the liquidator and can only sell them upon receiving written instructions from the liquidator. Investments are made by the Reserve Bank only upon the liquidator's written request.
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