Powers and functions of Official Liquidator

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....rpose of clause (ii) of sub-section (1) of section 361, the class of companies shall be as under, based on the latest audited Balance Sheet:- (a) the company which has taken deposit and total outstanding deposits is not exceeding twenty-five lakh rupees; or (b) the company of which the total outstanding loan including secured loan does not exceed fifty lakh rupees; or (c....

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.... Tribunal is mentioned, it shall be read as Central Government and with further directions issued by the Central Government as may be necessary, from time to time. (6) The monies received by the Official Liquidator as referred to in section 349 shall be paid by him into the public account of India in the Reserve Bank of India as mentioned in that section not later than the next working day of t....