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of <h1>Section 362: Official Liquidator must quickly sell assets and recover dues, depositing proceeds as per section 349</h1> Section 362 of the Companies Act, 2013 mandates that the Official Liquidator must sell all movable and immovable assets of the company within sixty days of appointment. Within thirty days of appointment, the Official Liquidator must notify company debtors and contributories to deposit amounts owed to the company within thirty days. If any debtor fails to pay, the Official Liquidator may apply to the Central Government, which may issue appropriate orders for recovery. All amounts recovered under this section must be deposited in accordance with section 349.
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