Deposit and withdrawal of unclaimed dividends and / or undistributed proceeds in accordance with regulation 39 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.
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Withdrawal from Corporate Voluntary Liquidation Account requires Board application for release to enable onward distribution to stakeholders. Liquidators must deposit unclaimed dividends and undistributed proceeds into the Corporate Voluntary Liquidation Account and notify the Board in Form G. For stakeholder claims under regulation 39(7), the liquidator shall apply to the Board using the prescribed annexure to request release of specified amounts for onward distribution, providing corporate identifiers, deposit and withdrawal details, stakeholder references, reasons for prior non distribution, justification, and bank account particulars, and certifying the accuracy of the submitted information.
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Withdrawal from Corporate Voluntary Liquidation Account requires Board application for release to enable onward distribution to stakeholders.
Liquidators must deposit unclaimed dividends and undistributed proceeds into the Corporate Voluntary Liquidation Account and notify the Board in Form G. For stakeholder claims under regulation 39(7), the liquidator shall apply to the Board using the prescribed annexure to request release of specified amounts for onward distribution, providing corporate identifiers, deposit and withdrawal details, stakeholder references, reasons for prior non distribution, justification, and bank account particulars, and certifying the accuracy of the submitted information.
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