Provisions applicable to every mode of winding up ‑ Payment to claimant resident in India whether Indian or foreign national ‑ Whether to be made by rupee cheques - Companies Law - F. No. 6/13/59‑CL‑III,

File No. 6/13/59 ‑ CL ‑ III, dated 30 ‑ 7 ‑ 1959. Subject:- Provisions applicable to every mode of winding up ‑ Payment to claimant resident in India whether Indian or foreign national ‑ Whether to be made by rupee cheques Payments out of the Companies Liquidation Account should be made to the claimant resident in India by rupee cheques without referring to the Reserve Bank of India, irrespective of the fact whether he is an Indian or a foreign national. Remittances to claimants outside India should be made through a bank authorised to deal in foreign exchange after obtaining from the parties necessary exchange control permits from the Reserve Bank. Payment can also be made in those cases where exchange control certificate has been obtained from the bank by the party authorising him to open a non‑resident account or for the amount being credited to the non‑resident account in the name of somebody else.