https://www.taxtmi.com/notifications?id=131869 The regulations create a Corporate Liquidation Account as the repository for unclaimed dividends and undistributed proceeds, require liquidators to deposit such amounts and accrued income into the Account (with a fifteen-day deposit deadline for amounts held on commencement), impose twelve percent per annum interest for late deposits, mandate evidence submission in Form I, empower the Board to permit withdrawals on proof via Form J, require Board receipts, debtor-wise ledgers, custodianship by an Executive Director-level officer, annual audit and forwarding of accounts, and provide that unclaimed balances after fifteen years transfer to the Consolidated Fund of India. en-us Mon, 06 Jan 2020 00:00:00 +0530 Tue, 07 Jan 2020 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=131869 The regulations create a Corporate Liquidation Account as the repository for unclaimed dividends and undistributed proceeds, require liquidators to deposit such amounts and accrued income into the Account (with a fifteen-day deposit deadline for amounts held on commencement), impose twelve percent per annum interest for late deposits, mandate evidence submission in Form I, empower the Board to permit withdrawals on proof via Form J, require Board receipts, debtor-wise ledgers, custodianship by an Executive Director-level officer, annual audit and forwarding of accounts, and provide that unclaimed balances after fifteen years transfer to the Consolidated Fund of India. Notifications IBC Mon, 06 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=131869