Unpaid dividends and undistributed assets to be paid into the Companies Liquidation Account.

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....quidator shall forthwith pay the said money into the public account of India in the Reserve Bank of India in a separate account to be known as the Companies Liquidation Account.]     (2) The liquidator shall, on the dissolution of the company, similarly pay into the said account any money representing ^[2][unpaid] dividends or undistributed assets in his hands at the date of dissolution.     (3) The liquidator shall, when making any payment referred to in sub-sections (1) and (2), furnish to such officer as the Central Government may appoint in this behalf, a statement in the prescribed form, setting forth, in respect of all sums included in such payment, the nature of the sums, the names and last known a....

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....r payment thereof, and the 1[Tribunal], if satisfied that the person claiming is entitled, may make an order for the payment to that person of the sum due:         Provided that before making such an order, the 1[Tribunal] shall cause a notice to be served on such officer as the Central Government may appoint in this behalf, calling on the officer to show cause within one month from the date of the service of the notice why the order should not be made.          (b) Any person claiming as aforesaid may, instead of applying to the 1[Tribunal], apply^[6] to the Central Government^[7] for an order for payment of the money claimed; and the Central Government may, i....

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....le to pay any expenses occasioned by reason of his default; and          (c) where the winding up is by ^[10][the Tribunal], also be liable to have all or such part of his remuneration as the ^[11][Tribunal] may think just to be disallowed, and to be removed from his office by the 2[Tribunal].     ---------------------------------------------- Notes:- [1] Substituted by Companies (Amendment) Act, 1960, Act 65 of 1960, section 191, for sub-section (1). [2] Substituted by the Companies (Amendment) Act, 1960, Act 65 of 1960, section 191, for "unclaimed". [3] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. * sic.....