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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Depositing money owed to a company into the liquidator's special bank account requires certified order or signed challan, plus receipt notice</h1> Where the Tribunal orders any person to pay money due to a company into the special bank account maintained by the Company Liquidator, the person must, at the time of payment, produce to the bank either a certified copy of the order or a payment challan endorsed and signed by the Company Liquidator. The payer must also notify the Company Liquidator of the payment and submit the bank receipt evidencing the deposit. These requirements condition the validity and processing of such deposits by prescribing documentary proof to the bank and mandatory reporting and verification to the Company Liquidator.
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