Rules and Regulations of India

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Section 283 – THE COMPANIES (COURT) RULES, 1959

283. Liquidator to pay the balance into public account

Upon an order for dissolution being made, the Official Liquidator shall forthwith pay into the Companies Liquidation Account in the public account of India in the Reserve Bank of India any unclaimed dividends payable to creditors, or undistributed assets refundable to contributories in his hands on the date of the order of dissolution, and such other balance in his hands as he has been directed by the Court to deposit into the Companies Liquidation Account in the Reserve Bank of India. Every order of dissolution shall direct that the Official Liquidator do forward a certified copy of the order to the Registrar of Companies not later than 14 days from the date of the order. Along with the copy of the order shall be filed with the Registrar of Companies a statement signed by the Official Liquidator that the directions of the Court regarding the application of the balance as per his final account have been duly complied with.

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