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        Companies Law

        Rule 89 - Dividend and interest to be credited

        Companies (Winding Up) Rules, 2020
        INVESTMENT OF SURPLUS FUNDS

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        Dividends and interest from investments must be received by the bank and credited to the liquidator's account for the company. Dividends and interest from securities or investments are to be received by the bank and placed to the credit of the Company Liquidator's account, with intimation to the Company Liquidator who shall thereupon credit such dividend or interest in his account to the company to which the security or investment belongs.
                          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.

                                Dividends and interest from investments must be received by the bank and credited to the liquidator's account for the company.

                                Dividends and interest from securities or investments are to be received by the bank and placed to the credit of the Company Liquidator's account, with intimation to the Company Liquidator who shall thereupon credit such dividend or interest in his account to the company to which the security or investment belongs.


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