TMI Blog2019 (6) TMI 1247X X X X Extracts X X X X X X X X Extracts X X X X ..... anies (Court) Rules, 1959. The Official Liquidator is authorized to open a separate dividend account in Punjab National Bank and pay the dividend to unsecured creditors out of the said account in terms of Rule 290 of the Companies (Court) Rules, 1959. He is also authorised to fix the schedule for making payment and also to pay the dividend due to any deceased creditor to his legal heirs upon production of a family member certificate or such other certificate other than a succession certificate and upon furnishing a personal indemnity in terms of Rule 280 of the 1959 Rules and to incur incidental charges from and out of the available funds of the company in liquidation. Application allowed. - I.A. Nos. 1 & 2 OF 2019 AND COMPANY APPLI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Official Liquidator to pay the dividend due to any deceased creditor to his legal heirs upon production of such legal heirs, a family member certificate or such other certificate instead of producing a succession certificate and also upon furnishing personal indemnity bond in terms of Rule 280 of the Companies (Court) Rules, 1959. viii) permit the Official Liquidator to incur incidental charges from and out of the available funds of the company (in liqn.). ix) order that the costs of this Application do come out of the funds of the Company (in Liqn.). In this Application, I.A. Nos. 1 and 2 of 2019 have also been taken out to condone the delay of 1175 days (approx.) in filing the Certif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng with publication of notice of dividend in newspapers as required under Rule 276 of the Companies (Court) Rules, 1959. The Official Liquidator is authorized to open a separate dividend account in Punjab National Bank and pay the dividend to unsecured creditors out of the said account in terms of Rule 290 of the Companies (Court) Rules, 1959. He is also authorised to fix the schedule for making payment and also to pay the dividend due to any deceased creditor to his legal heirs upon production of a family member certificate or such other certificate other than a succession certificate and upon furnishing a personal indemnity in terms of Rule 280 of the 1959 Rules and to incur incidental charges from and out of the available ..... X X X X Extracts X X X X X X X X Extracts X X X X
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