for example: TATA AIG

  for example: Indian Contract Act

  for example: Ratan Tata

  for example: Negotiable Instruments Act

Section 6   [ View Judgements ]

Deposits of bills for collection.


All bills, cheques, hundies, notes and other securities of like nature, payable to a company in the charge of the official liquidator or to the official liquidator, shall, as soon as they come into the hands of the official liquidator be deposited by him in the Reserve Bank for being presented for acceptance and payment or for payment, as the case may be, and the proceeds, when realised, shall be credited by the Reserve Bank to the said account and the fact intimated to the official liquidator. Any discount deducted or allowed on realisation by the official liquidator in payment of the amount due to him or other bank charges or any other charges shall be recoverable from the persons making the payment.

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