362. Sale of assets and recovery of debts due to company
(1) The Official Liquidator shall expeditiously dispose of all the assets whether
movable or immovable within sixty days of his appointment.
(2) The Official Liquidator shall serve a notice within thirty days of his appointment
calling upon the debtors of the company or the contributories, as the case may be, to deposit
within thirty days with him the amount payable to the company.
(3) Where any debtor does not deposit the amount under sub-section (2), the Central
Government may, on an application made to it by the Official Liquidator, pass such orders as
it thinks fit.
(4) The amount recovered under this section by the Official Liquidator shall be deposited
in accordance with the provisions of section 349.