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Companies Act, 1956 Section 555

Title: Unpaid Dividends and Undistributed Assets to Be Paid into the Companiesliquidation Account

State: Central

Year: 1956

.....552. (6) Where the company is being wound up voluntarily 3 [the Tribunal] the liquidator shall, when filing a statement in pursuance of sub-section (1) of section 551, indicate the sum of money which is payable to the Reserve Bank of India under sub-sections (1) and (2) of this section which he has had in his hands or under his control during the six months preceding the date to which the said statement is brought down, and shall, within fourteen days of the date of filing the said statement, pay that sum into the Companies Liquidation Account. (7) (a) Any person claiming to be entitled to any money paid into the Companies Liquidation Account (whether paid in pursuance of this section or under the provisions of any previous companies law) may apply to the 4 [Tribunal] for an order for payment thereof, and the 4 [Tribunal], if satisfied that the person claiming is entitled, may make an order for the payment to that person of the sum due: Provided that before making such an order, the 4 [Tribunal] shall cause a notice to be served on such officer as the Central Government may appoint in this behalf calling on the officer to show cause within one month from the date of.....

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