Liquidator bank account obligations require scheduled bank deposits and remittance challans, with cheques for larger payments. All monies received by a liquidator in LLP winding up must be paid into the Public Account of India or a designated Scheduled Bank to the credit of an account in the Liquidator's official name, with daily realizations remitted without deduction by the next working day (subject to a permissible deferment until realizations exceed a minimal threshold); payments above that threshold are ordinarily made by cheque. The Tribunal may permit alternative account operation for panel appointees, and the Liquidator must keep a serially numbered remittance challan book with bank acknowledgements, the challan form to be settled with the bank.
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Provisions expressly mentioned in the judgment/order text.
Liquidator bank account obligations require scheduled bank deposits and remittance challans, with cheques for larger payments.
All monies received by a liquidator in LLP winding up must be paid into the Public Account of India or a designated Scheduled Bank to the credit of an account in the Liquidator's official name, with daily realizations remitted without deduction by the next working day (subject to a permissible deferment until realizations exceed a minimal threshold); payments above that threshold are ordinarily made by cheque. The Tribunal may permit alternative account operation for panel appointees, and the Liquidator must keep a serially numbered remittance challan book with bank acknowledgements, the challan form to be settled with the bank.
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