https://www.taxtmi.com/caselaws?id=98637 The High Court of Andhra Pradesh ruled that the moneys held by the liquidator in a special banking account during a company's liquidation did not constitute unpaid dividends under section 555(1)(a) of the Companies Act, 1956. The court clarified that these funds, subject to disputes among heirs-at-law, were not considered dividends as they did not meet the criteria of being unpaid for six months. Consequently, the liquidator was permitted to continue his duties under section 512 without additional directives. en-us Mon, 21 Apr 1969 00:00:00 +0530 Sat, 21 Jan 2012 13:31:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98637 The High Court of Andhra Pradesh ruled that the moneys held by the liquidator in a special banking account during a company's liquidation did not constitute unpaid dividends under section 555(1)(a) of the Companies Act, 1956. The court clarified that these funds, subject to disputes among heirs-at-law, were not considered dividends as they did not meet the criteria of being unpaid for six months. Consequently, the liquidator was permitted to continue his duties under section 512 without additional directives. Case-Laws Companies Law Mon, 21 Apr 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98637