Payment of unpaid dividends into the Reserve Bank to credit the Company's Liquidation Account within prescribed timeframes. Moneys representing unpaid dividends or undistributed assets held by a liquidator must, within fourteen days of becoming due, be paid into the Reserve Bank to the credit of the Company's Liquidation Account under the major head 'Civil Deposits' (Deposits not bearing interest-Other Deposits Accounts). Payments are to be made at a Reserve Bank office in the State of the company's registered office; amounts falling under the Deposit Insurance Corporation Act must be paid to the Corporation as required by that Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Payment of unpaid dividends into the Reserve Bank to credit the Company's Liquidation Account within prescribed timeframes.
Moneys representing unpaid dividends or undistributed assets held by a liquidator must, within fourteen days of becoming due, be paid into the Reserve Bank to the credit of the Company's Liquidation Account under the major head "Civil Deposits" (Deposits not bearing interest-Other Deposits Accounts). Payments are to be made at a Reserve Bank office in the State of the company's registered office; amounts falling under the Deposit Insurance Corporation Act must be paid to the Corporation as required by that Act.
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