PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY <BR> LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP - Companies (Winding Up) Rules, 2020
PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY <BR> LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP - Companies (Winding Up) Rules, 2020
Investment of surplus funds must be in government securities or scheduled bank deposits with Tribunal oversight. Monies held by the Company Liquidator not immediately required for winding up must be invested in Government securities or interest bearing deposits in ... Summary
Investment of surplus funds must be in government securities or scheduled bank deposits with Tribunal oversight.
Monies held by the Company Liquidator not immediately required for winding up must be invested in Government securities or interest bearing deposits in scheduled banks in the company's name; the Liquidator must monitor investments, submit returns with deposit details to the Tribunal, and on deposit maturity perform due diligence on alternative banks and seek Tribunal leave to reinvest where a higher rate is available.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.