https://www.taxtmi.com/acts?id=17647 Company liquidators must deposit monies received in their capacity into a special bank account at a scheduled bank, unless the Tribunal permits another bank. If a liquidator retains for more than ten days any sum exceeding five thousand rupees (or a Tribunal-authorised amount), absent a satisfactory explanation he must pay interest at twelve percent per annum on the excess, any Tribunal-determined penalty, expenses caused by the default, and may suffer disallowance of remuneration or removal from office. en-us Sat, 02 Mar 2013 15:46:23 +0530 Sat, 13 Dec 2025 13:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17647 Company liquidators must deposit monies received in their capacity into a special bank account at a scheduled bank, unless the Tribunal permits another bank. If a liquidator retains for more than ten days any sum exceeding five thousand rupees (or a Tribunal-authorised amount), absent a satisfactory explanation he must pay interest at twelve percent per annum on the excess, any Tribunal-determined penalty, expenses caused by the default, and may suffer disallowance of remuneration or removal from office. Act-Rules Companies Law Sat, 02 Mar 2013 15:46:23 +0530 https://www.taxtmi.com/acts?id=17647