How to claim unclaimed dividend or proceeds from a company under liquidation

The Insolvency and Bankruptcy Board of India (IBBI) manages unclaimed dividend and undistributed proceeds from companies undergoing liquidation through a dedicated Corporate Liquidation Account. If you or someone you know was a stakeholder (e.g., creditor, shareholder) in a company that faced liquidation, here’s a step-by-step guide to claim your rightful funds:

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Step 1: Check Eligibility

You may be eligible to claim funds if:

• You were a stakeholder in a company that underwent liquidation.
• The liquidator could not distribute your share due to missing details or unavailability.
• Your details were submitted to IBBI by the liquidator.

How to Confirm Eligibility:

• Contact the liquidator of the company (details are often available in public records).
• Check IBBI’s list of companies with unclaimed deposits here.
• Reach out to IBBI directly at unclaimed.proceeds@ibbi.gov.in.

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Step 2: Gather Required Documents

Prepare the following documents to support your claim:

1. Form J (download from IBBI’s website).
2. Self-attested copy of identity proof (Aadhaar, PAN, etc.).
3. Copy of the original claim submitted to the liquidator.
4. Bank details:
   • 6-month bank statement.
   • Original cancelled cheque (for account verification).
5. Additional Documents (if applicable):
   • Legal heir certificate, will, or court order (for claims by heirs).
   • FIR and indemnity bond (if original share certificates are lost).

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Step 3: Fill and Submit Form J

Form J requires the following details:

• Corporate Debtor’s name, liquidation dates, and dissolution order details.
• Stakeholder’s personal information, identification number (PAN/Aadhaar), and bank account details.
• Reasons for not claiming funds earlier (e.g., lack of communication, unawareness).

Submission Process:

• Submit the filled Form J and documents to IBBI via email or post.
• Ensure all fields are accurate to avoid delays.

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Step 4: Track and Await Processing

• IBBI reviews applications and may request additional documents.
• Processing time varies but typically takes a few weeks.
• Track your application status by emailing unclaimed.proceeds@ibbi.gov.in.

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Step 5: Receive Funds

If approved, the amount is directly transferred to your bank account. If rejected, you can reapply after addressing the issues highlighted by IBBI.

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Key Reminders

• No Fees: The process is free of charge.
• Act Quickly: Unclaimed funds are transferred to the Consolidated Fund of India after 15 years from dissolution.
• Separate Claims: Submit a separate Form J for each company/liquidation case.

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Need Help?

• Download Form J and guidelines: IBBI Portal.
• Contact IBBI: unclaimed.proceeds@ibbi.gov.in or visit their office.

By following these steps, stakeholders can efficiently reclaim their dues. Don’t delay—check your eligibility today and secure your funds before the deadline!

Note: This process applies only to companies under liquidation governed by IBBI. For other unclaimed deposits (e.g., bank accounts), refer to the RBI’s Depositor Education and Awareness Fund.

Also See: RBI issues FAQs on circular regarding settlement with wilful defaulters