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of <h1>Clause 352: Unpaid Dividends in Liquidation Must Be Deposited; Claims Resolved in 60 Days or Transferred After 15 Years.</h1> Clause 352 of the Companies Bill, 2011, mandates that during the winding up of a company, any unpaid dividends or undistributed assets held by the liquidator for over six months must be deposited into a Company Liquidation Dividend and Undistributed Assets Account at a scheduled bank. Upon dissolution, remaining funds must also be deposited, and a detailed statement provided to the Registrar. Claimants can apply to the Registrar for payment, who must resolve claims within 60 days. Unclaimed funds after 15 years transfer to the Central Government's revenue account. Liquidators failing to comply face penalties, including interest, fines, and potential removal.
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