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of <h1>Clause 351 Bars Liquidators from Using Private Accounts for Company Funds, Ensuring Transparency in Winding Up.</h1> Clause 351 of the Companies Bill, 2011, mandates that neither the Official Liquidator nor the Company Liquidator is permitted to deposit any funds received in their official capacity into a private banking account. This provision applies to all modes of winding up, ensuring that liquidators handle company monies through appropriate and authorized channels, maintaining transparency and accountability in the liquidation process.
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