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)
Unclaimed dividends and undistributed assets must be deposited into the Company Liquidation Dividend and Undistributed Assets Account upon dissolution. On an order of dissolution the Company Liquidator must pay into the Company Liquidation Dividend and Undistributed Assets Account any unclaimed dividends payable to creditors and any undistributed assets refundable to contributories then in his hands, and any other balance directed by the Tribunal; the dissolution order must require the liquidator to forward a certified copy to the Registrar within seven days and file a signed statement that Tribunal directions on application of the balance in his final account have been complied with.
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.
Unclaimed dividends and undistributed assets must be deposited into the Company Liquidation Dividend and Undistributed Assets Account upon dissolution.
On an order of dissolution the Company Liquidator must pay into the Company Liquidation Dividend and Undistributed Assets Account any unclaimed dividends payable to creditors and any undistributed assets refundable to contributories then in his hands, and any other balance directed by the Tribunal; the dissolution order must require the liquidator to forward a certified copy to the Registrar within seven days and file a signed statement that Tribunal directions on application of the balance in his final account have been complied with.
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