Deposit and withdrawal of unclaimed dividends and / or undistributed proceeds in accordance with regulation 46 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations)
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Unclaimed dividends withdrawal: liquidator may apply to the Board for release to a verified stakeholder using prescribed particulars. Liquidators must deposit unclaimed dividends and undistributed proceeds into the Corporate Liquidation Account and notify the Board. If a stakeholder claims entitlement before dissolution, the liquidator, after verification, shall apply to the Board for release using the prescribed annexure, which requires detailed particulars of the corporate debtor, deposit and request dates, acknowledgement number, amounts, stakeholder identity and position, reasons for non-distribution, justification, beneficiary bank details with supporting cheque, and the liquidator's certification.
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Unclaimed dividends withdrawal: liquidator may apply to the Board for release to a verified stakeholder using prescribed particulars.
Liquidators must deposit unclaimed dividends and undistributed proceeds into the Corporate Liquidation Account and notify the Board. If a stakeholder claims entitlement before dissolution, the liquidator, after verification, shall apply to the Board for release using the prescribed annexure, which requires detailed particulars of the corporate debtor, deposit and request dates, acknowledgement number, amounts, stakeholder identity and position, reasons for non-distribution, justification, beneficiary bank details with supporting cheque, and the liquidator's certification.
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