Section 286(1) in The Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
(1)The liquidator shall open a account of the liquidator called the "Liquidation Account of .............. LLP" in a Scheduled Bank, into which he shall pay all money received by him as liquidator, and the realization of each day shall be paid into the said account without deduction not later than the next working day of the Bank, provided that the remittance of moneys into the Bank may be deferred until the realization exceeds. Rs. 1000. The money needed for meeting the expenses of liquidation or for making any payments by the liquidator in cash shall be drawn from the Bank by cheques drawn upon the Bank by the liquidator. All payments by the liquidator above Rs. 1000/- shall ordinarily be made by cheque.
