Income Tax Department

Ministry of Finance, Government of India

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Section 471

Payment into bank of moneys due to company

Section

Section Number

471

Chapter

CHAPTER VII - WINDING UP

Act

Companies Act, 1956 (Repealed)

Year

Payment into bank of moneys due to company

Payment into bank of moneys due to company

Payment into bank of moneys due to company.

471.   (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.

Footnotes