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Corporate Laws Central Ministry of Law and Justice Insolvency and Bankruptcy Code, 2016

Deposit and withdrawal of unclaimed dividends and / or undistributed proceeds

13-Feb-2024 | No. IBBI/LIQ/68/2024

IBBI has issued a notification on Deposit and withdrawal of unclaimed dividends and / or undistributed proceeds in accordance with regulation 39 i.e. Unclaimed proceeds of liquidation or undistributed assets.

By virtue of this notification the liquidator shall apply to the Board in the form as per Annexure to this notification, for the release of the amount for onward distribution to the stakeholder under regulation 39(7), who claims to be entitled to any amount deposited into the Corporate Voluntary Liquidation Account for withdrawal before the dissolution of the corporate person.

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