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Unclaimed proceeds of liquidation or undistributed assets

Regulation 46 - Regulation - PROCEEDS OF LIQUIDATION AND DISTRIBUTION OF PROCEED S - Insolvency and Bankruptcy - Regulation 46 - 46. (1) Before the order of dissolution is passed under section 54(2), the liquidator shall apply to the Adjudicating Aut .....

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should have been paid by him into the Companies Liquidation Account under this Regulation shall pay interest on the amount retained at the rate of twelve per cent per annum, and also pay such penalty as may be determined by the Board. (3) The liquid .....

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s of the stakeholders entitled to participate therein, the amount to which each is entitled to and the nature of their claim. (4) The liquidator shall be entitled to a receipt from the Reserve Bank of India for any money paid to it under sub-regulati .....

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