All money to be paid in to bank account

All money to be paid in to bank account https://www.taxtmi.com/acts?id=31570 The liquidator must open a scheduled bank account in the corporate debtor's name followed by the words "in liquidation" and deposit all money received, including cheques and demand drafts, into that account. Daily realisations must be credited without deduction by the next working day. The liquidator may retain cash up to one lakh rupees, or a higher amount permitted to meet liquidation costs, and all payments above five thousand rupees must be made by cheque or online banking transaction. en-us Thu, 04 Jan 2018 11:20:01 +0530 Tue, 09 Jun 2026 12:00:05 +0530 TaxTMI RSS Generator All money to be paid in to bank account https://www.taxtmi.com/acts?id=31570 The liquidator must open a scheduled bank account in the corporate debtor's name followed by the words "in liquidation" and deposit all money received, including cheques and demand drafts, into that account. Daily realisations must be credited without deduction by the next working day. The liquidator may retain cash up to one lakh rupees, or a higher amount permitted to meet liquidation costs, and all payments above five thousand rupees must be made by cheque or online banking transaction. Act-Rules IBC Thu, 04 Jan 2018 11:20:01 +0530 https://www.taxtmi.com/acts?id=31570