Section 586 in Rules of the High Court of Judicature for Rajasthan, 1952
586. Official Liquidator to open Banking account.
- Upon a winding up order being made, the Official Liquidator shall as soon as may be after his appointment, open an account in the name of the Official Liquidator of the company in liquidation with a Schedule Bank, as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934, or with such other bank as the Court may select on an application made by him for the purpose under the provisio to [section 244-A] [Companies Act, 1913 repealed by Act No. 1 of 1956, section 244-A. of the old Act is analogous to sections 553 of the new Act.] of the Act. All moneys received in the course of the winding up shall be paid into such account within ten days after the receipt thereof. An authority to open an account with the bank shall be in the prescribed form.
