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of <h1>Regulation 46 mandates liquidators deposit unclaimed dividends into a Corporate Liquidation Account, with penalties for delays.</h1> Regulation 46 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 mandates the creation of a Corporate Liquidation Account managed by the Board with a scheduled bank. Liquidators must deposit unclaimed dividends and undistributed proceeds into this account. If not deposited timely, interest is imposed. Stakeholders can claim entitled amounts before or after corporate dissolution by applying to the liquidator or Board. The Board maintains detailed records and audits the account annually. Unclaimed amounts for fifteen years are transferred to the Consolidated Fund of India. The Board's Executive Director acts as the account's custodian.
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