Rule 325 - Bills, cheques and securities to be deposited in Bank. - Company Court Rules, 1959

Bills, cheques and securities to be deposited in Bank. 325. All bills, cheques, hundies, notes and other securities of a like nature payable to the company or to the liquidator thereof shall, as soon as they come into the hands of the liquidator be deposited by him with the Reserve Bank for the purpose of being presented for acceptance and payment or for payment only as the case may be, and the proceeds when realised shall be credited by the Bank to the account of the liquidator.