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of <h1>Unclaimed Funds Escheat to Government After 25 Years Under Section 126 of Finance Act, 2015</h1> Section 126 of the Finance Act, 2015, addresses the escheat of unclaimed amounts to the Central Government. If no claim is made within 25 years from the credit of the unclaimed amount into the Senior Citizens' Welfare Fund, the amount escheats to the Central Government unless a court orders otherwise. The right to claim the amount subsists for this period and extinguishes afterward. However, if genuine reasons prevented a timely claim, the Central Government may refund the escheated amount based on a committee's recommendation. The escheated amount may be retained in the Fund for its purposes.
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