254. Payments into Bank

(1) Where the Tribunal makes an order directing any person to pay any money due to the LLP into the Public Account of India in the Reserve Bank of India or the designated Scheduled bank, instead of the Liquidator, the person so directed shall, at the time of making the payment, produce to the Bank a certified copy of the order or a payment in challan endorsed by the Liquidator under his signature.

(2) The money so paid shall be credited to the Liquidator’s account into the Public Account of India or the designated Scheduled bank and the person making the payment shall give notice thereof to the Liquidator and produce before him the Bank receipt relating thereto.