The Insolvency and Bankruptcy Board of India, (IBBI) on February 13, 2023, issued a Deposit and withdrawal of unclaimed dividends and or undistributed proceeds per regulation 39 of the IBBI (Voluntary Liquidation Process) Regulations 2017.
The following has been stated-
•To facilitate the request received from a 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, the liquidator shall apply to the Board in the form as per Annexure, for the release of the amount for onward distribution to the stakeholders.
[Notification No. IBBI/LIQ/68/2024]
