Investment of surplus funds: Liquidator may invest in government securities or scheduled bank deposits with tribunal sanction. Surplus monies held by the Liquidator not immediately required for winding up must be invested in government securities or interest bearing deposits in the designated scheduled bank, or, with the previous sanction of the Tribunal, in deposits in any other scheduled bank in the name of the Liquidator for the LLP, and the Tribunal may direct alternative investment methods where the liquidator is from the panel.
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.
Investment of surplus funds: Liquidator may invest in government securities or scheduled bank deposits with tribunal sanction.
Surplus monies held by the Liquidator not immediately required for winding up must be invested in government securities or interest bearing deposits in the designated scheduled bank, or, with the previous sanction of the Tribunal, in deposits in any other scheduled bank in the name of the Liquidator for the LLP, and the Tribunal may direct alternative investment methods where the liquidator is from the panel.
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