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of <h1>Liquidators Must Open Separate Dividend Accounts for Each Company Under Liquidation as Per Court-Approved Guidelines</h1> The Official Liquidator must establish a separate dividend account for each company under liquidation at the State Bank of India, its subsidiaries, or another court-approved Scheduled Bank. This account, named 'the Dividend Account of [company name] in liquidation by its Official Liquidator,' is used to deposit declared dividends transferred from the Reserve Bank of India. Each dividend declaration requires a separate account, and all dividend payments are made from this account. Unpaid balances are returned to the Official Liquidator's Reserve Bank account before being transferred to the companies liquidation account as unclaimed dividends. Payments above Rs. 50 are typically made by cheque.
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