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of <h1>Bankruptcy Trustees Must Credit Unclaimed Dividends to Insolvency Fund Within 3 Days or Face 12% Interest Penalty</h1> Regulation 36 of the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, mandates that a bankruptcy trustee must apply to the Adjudicating Authority to credit any unclaimed dividends or undistributed assets to the Insolvency and Bankruptcy Fund within three days of filing the final report. Failure to comply results in a 12% annual interest penalty. The trustee must provide creditor details and amounts to the Board. Credit receipts are issued as proof. Claims on the fund can be made, and if unclaimed for 15 years, funds may be utilized for the Fund's purposes.
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