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of <h1>Company Liquidators Must Deposit Funds in Approved Bank Accounts, Submit Quarterly Reports per Rule .</h1> All funds received by a Company Liquidator must be deposited into a special bank account at a scheduled bank or another bank approved by the Tribunal. The deposits, including cheques and demand drafts, should be made without deductions by the next working day. The Company Liquidator is allowed to maintain petty cash up to five thousand rupees or a higher amount if permitted. Payments over two thousand rupees from this account must be made via cheque. Additionally, the Company Liquidator is required to submit quarterly reports to the Tribunal, including bank statements of the special account.
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