Section 471 - Payment into bank of moneys due to company. - Companies Act, 1956

Payment into bank of moneys due to company. 471. (1) The [1] [Tribunal] may order any contributory, purchaser or other person from whom any money is due to the company to pay the money into the public account of India in the Reserve Bank of India instead of to the liquidator. (2) Any such order may be enforced in the same manner as if the 1[Tribunal] had directed payment to the liquidator. ---------------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified.