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of <h1>Liquidators Must Transfer Unpaid Dividends to RBI After 6 Months Under Section 555 of Companies Act, 1956</h1> Section 555 of the Companies Act, 1956 mandates that liquidators handling the winding-up of a company must transfer unpaid dividends and undistributed assets, remaining for over six months, into the Companies Liquidation Account at the Reserve Bank of India. Upon dissolution, any remaining unpaid dividends or assets must also be transferred. Liquidators must provide detailed statements to a government-appointed officer. Claimants can apply to the Tribunal or Central Government for payments. Unclaimed funds for 15 years are transferred to the Central Government's revenue account but can still be claimed. Liquidators failing to comply face interest penalties and potential removal.
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