Bare ActsCompanies Act, 1956

Section 471

Payment into bank of moneys due to company

Amendment status not verified — confirm the current text below against the official source.

(1) The [Tribunal] may order any contributory, purchaser or other person from whom any money is due to the company to pay the money into the public account of India in the Reserve Bank of India instead of to the liquidator. (2) Any such order may be enforced in the same manner as if the [Tribunal] had directed payment to the liquidator.

Section 471 – Companies Act, 1956 | DailyLaw.ai