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)
Company dissolution process allows tribunal to order dissolution, direct balance application or payment and dispose of company records. Rule 175 empowers the Tribunal, after hearing the Company Liquidator and other notified persons and perusing the audited account, to order the company's dissolution, direct application of the balance in the liquidator's hands subject to the Act or require payment into the Company Liquidation Dividend and Undistributed Assets Account, and order disposal of the company's and liquidator's books and papers.
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.
Company dissolution process allows tribunal to order dissolution, direct balance application or payment and dispose of company records.
Rule 175 empowers the Tribunal, after hearing the Company Liquidator and other notified persons and perusing the audited account, to order the company's dissolution, direct application of the balance in the liquidator's hands subject to the Act or require payment into the Company Liquidation Dividend and Undistributed Assets Account, and order disposal of the company's and liquidator's books and papers.
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