Sales register requirements centralize liquidation sale records and mandate payment acceptance only by demand draft or cash. The prescribed sales register requires the liquidator to maintain a common ledger for all liquidations, recording LLP name, property description, sale date and method, purchaser details, confirmation date and sale value, amounts of earnest money or advance with dates, balance realized and remarks; amounts received in connection with sales must be accepted only by demand draft or cash.
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.
Sales register requirements centralize liquidation sale records and mandate payment acceptance only by demand draft or cash.
The prescribed sales register requires the liquidator to maintain a common ledger for all liquidations, recording LLP name, property description, sale date and method, purchaser details, confirmation date and sale value, amounts of earnest money or advance with dates, balance realized and remarks; amounts received in connection with sales must be accepted only by demand draft or cash.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.