Section 351 Liquidator not to deposit monies into private banking account – Companies Act 2013

Amended and updated notes on section 351 of Companies Act 2013. Provisions related to liquidator not to deposit monies into private banking account.

Amended and updated notes on section 351 of Companies Act 2013. Detail discussion on provisions and rules related to liquidator not to deposit monies into private banking account.

Chapter XX (Section 270365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 351 of CA 2013 provides for liquidator not to deposit monies into private banking account.

Recently, we have discussed in detail section 350 (Company Liquidator to deposit monies into scheduled bank) of CA 2013. Today, we learn the provisions of section 351 of the Companies Act 2013.

The provisions of section 351 are effective from 15th December, 2016. You may refer Notification No. S.O. 3677(E) issued dated 7-12-2016. In this article, you will learn detail of the provisions of section 351 the Companies Act 2013.

Name of ActThe Companies Act 2013
Enacted byParliament of India
Administered byMinistry of Corporate Affairs (MCA)
Number of Chapters29
Number of Sections484 (470-43+57)
Number of Schedules7
You are reading:
Chapter No.XX
Chapter NameWinding Up
Section No.351
Section NameLiquidator not to deposit monies into private banking account
Monthly Updated EditionCompany Law PDF

Section 351 of Companies Act 2013: Liquidator not to deposit monies into private banking account

Section 351 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.

Neither the Official Liquidator nor the Company Liquidator of a company shall deposit any monies received by him in his capacity as such into any private banking account.


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