Section 287 in Andhra Pradesh Civil Rules of Practice and Circular Orders, 1980
287. Security to be furnished by the persons included in the panel of Receivers:
- Every person included in the panel shall within one month furnish security for the sum of Rs. 2,000 in favour of the Presiding Officer to secure his liability in respect of all receiver-ships to which he may be appointed. He shall furnish one or other of the following kinds of securities: (a) immoveable property; (b) cash; (c) a Government security; (d) fixed deposit or cash deposit in the Post Office Savings Bank; (e) Post Office Cash Certificate; (f) National Savings Certificates; (g) Bonds or Debentures issued by the Local Authorities in India as defined in Section 3(31) of the General Clauses Act, 1897 (Central Act X of 1897) (Local Authorities includes Port Trust). The security bond shall be in one of the Form Nos. 75, 76 and 77 of Appendix III-A of Part II of Volume II. Only on such security being furnished he may be considered for appointment as a Receiver. Such security shall be irrespective of the security, if any, that may be required of the Receiver by the Court under Order XL, Rule 3(a).
