Powers and functions of Official Liquidator

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..... pose 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 twentyfive lakh rupees; or (b) the company of which the total outstanding loan including secured loan does not exceed fifty lakh rupees; or (c) the company of wh .....

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..... t 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 the said Bank. (7) For .....

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