Company Liquidation Dividend and Undistributed Assets Account.

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....           (a) dividends payable to any creditor but which had remained unpaid for six months after the date on which they were declared; or            (b) assets refundable to any contributory which have remained undistributed for six months after the date on which they become refundable, the li....

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....d to participate therein, the amount to which each is entitled and the nature of his claim thereto, and such other particulars as may be prescribed.       (4) The liquidator shall be entitled to a receipt from the scheduled bank for any money paid to it under sub-sections (1) and (2), and such receipt shall be an effectual discharge of the Company Liquidator in respect ....

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.... Registrar for payment thereof, and the Registrar, if satisfied that the person claiming is entitled, may make the payment to that person of the sum due:           Provided that the Registrar shall settle the claim of such person within a period of sixty days from the date of receipt of such claim, failing which the Registrar shall make a report to t....

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....           (a) pay interest on the amount so retained at the rate of twelve per cent. Per annum and also pay such penalty as may be determined by the Registrar:                Provided that the Central Government may in any proper case remit either in part or in whole the amou....