Rule 293 - Investment of moneys. - Company Court Rules, 1959

Investment of Surplus Funds Investment of moneys. 293. All such money for the time being standing to the credit of the Official Liquidator at the Bank as is not immediately requir ed for the purposes of winding-up, shall be invested in Government securities or in interest bearing deposits in the State Bank of India, or, with the previous sanction of the Court, in interest bearing deposits in any other Scheduled Bank, in the name of the Official Liquidator as Official Liquidator of the company to which the funds belong.