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of <h1>Clause 149 of Finance Bill 2015: Unclaimed Funds Escheat to Government After 25 Years, Refund Possible with Valid Reasons.</h1> Clause 149 of the Finance Bill, 2015, concerning the Senior Citizens' Welfare Fund, stipulates that if no claim is made for an unclaimed amount within twenty-five years, it will escheat to the Central Government unless a court orders otherwise. The right to claim the amount exists until this period lapses. However, if the Central Government finds valid reasons for a delayed claim, it may refund the escheated amount upon the Committee's recommendation. The government may retain the escheated funds for the Fund's purposes.
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