PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Examination of liquidation accounts required monthly to identify investable surplus and record investment decisions and reasons. The company liquidator must, monthly, examine the account of liquidation to ascertain moneys available for investment and make an entry in the company's record book confirming the examination and stating the decision taken; if no investment is made the entry must record the reasons for that decision.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Examination of liquidation accounts required monthly to identify investable surplus and record investment decisions and reasons.
The company liquidator must, monthly, examine the account of liquidation to ascertain moneys available for investment and make an entry in the company's record book confirming the examination and stating the decision taken; if no investment is made the entry must record the reasons for that decision.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.