Liquidation recordkeeping: standard registers and ledgers required to track assets, claims, distributions, and fees consistently.

Schedule III prescribes indicative formats for registers and ledgers to be maintained by the liquidator, allowing modification as appropriate. Core books include the Cash Book, General Ledger and Bank Ledger, with entries in the General Ledger posted from the Cash Book and monthly tallies of debit and credit totals against cash and bank balances. Specific registers track assets, securities, book debts, suits and decrees, claims and distributions (only admitted claims), contributories, distributions (preferential and ordinary separately), fees (annual opening and quarterly audit entries), suspense items, documents and unclaimed dividends or undistributed proceeds.

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