https://www.taxtmi.com/caselaws?id=101815 The court dismissed the former management's application for a refund of unclaimed dividend amounting to Rs. 2 lakhs, holding that under section 555 of the Companies Act, unpaid dividends paid into the Companies Liquidation Account belong to the creditors. The court emphasized that even after deliquidation, unclaimed dividends cannot be returned to the company and must be claimed by creditors following the prescribed procedure. The judgment reaffirmed the statutory provisions governing unclaimed dividends, emphasizing the rights of creditors and denying the former management's claim for refund. en-us Fri, 20 Oct 1989 00:00:00 +0530 Sat, 11 Feb 2012 12:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101815 The court dismissed the former management's application for a refund of unclaimed dividend amounting to Rs. 2 lakhs, holding that under section 555 of the Companies Act, unpaid dividends paid into the Companies Liquidation Account belong to the creditors. The court emphasized that even after deliquidation, unclaimed dividends cannot be returned to the company and must be claimed by creditors following the prescribed procedure. The judgment reaffirmed the statutory provisions governing unclaimed dividends, emphasizing the rights of creditors and denying the former management's claim for refund. Case-Laws Companies Law Fri, 20 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101815