Rules 179 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Rules 179 to 182 of the Companies (Winding Up) Rules, 2020 cover what happens to money that no creditor or contributory has collected, and who is paid first out of the assets of a company wound up by the Tribunal. They are stated as amended up to 24 January 2020 (in force from 1 April 2020), with no amendment listed by MCA, per the MCA e-book; later amendments should be checked.
Payments of unclaimed dividends or undistributed assets into the Company Liquidation Dividend and Undistributed Assets Account are accompanied by a statement to the Registrar in Form WIN 94. Money the liquidator has invested counts as money in his hand and must be realised and paid in. A person claiming money from the account must say whether he has already applied to the Central Government. Rule 182 fixes a priority list: taxed costs of the petition first, then the costs of those who made the statement of affairs, and so on, after expenses of preserving and realising assets and subject to secured creditors.
How these rules relate to the Act
The account named in these rules is the one provided for in section 352 of the Act; see Sections 349–353 on liquidation money and the dividend account. The rules on dissolution just before are in Rules 174–178. The next group, on costs, fees and the Official Liquidator, is in Rules 183–191.
If you believe money is due to you from a wound-up company's account, or you are a liquidator completing this stage, we can help under legal dispute resolution.
Rule 179: statement to accompany payment
179(1). When the liquidator pays unclaimed dividends or undistributed assets into the Company Liquidation Dividend and Undistributed Assets Account in a scheduled bank under section 352(1) and (2), the statement he must furnish to the Registrar of Companies under section 352(3) is in Form WIN 94.
179(2). Whenever the Registrar of Companies calls on him, the liquidator must certify whether a person claiming payment from the account under section 352(7) is or is not entitled to the whole or part of the amount claimed.
Rule 180: unclaimed money that is invested
For the purpose of paying unclaimed dividends and undistributed assets into the account, money invested or deposited at interest by the liquidator is deemed to be money in his hand. When that money forms part of the unclaimed dividends or undistributed assets, the liquidator must realise the investment or withdraw the deposit and pay the proceeds into the account. A liquidator cannot leave unclaimed money in a fixed deposit or other investment and say it is not "in hand".
Rule 181: application by a claimant
An application under section 352(6) by any person claiming to be entitled to money paid into the account must state whether the applicant made an application to the Central Government for payment and, if so, the result. This helps the Tribunal see whether the claimant has already approached the Government and what came of it.
Rule 182: costs and expenses payable out of the assets
182(1). The assets remaining after payment of fees and expenses properly incurred in preserving, realising or getting in the assets are liable to the following payments, subject to any order of the Tribunal and the rights of secured creditors, in this order of priority:
- First, the taxed costs of the petition, including those of any person appearing on it whose costs the Tribunal allows;
- Next, the costs and expenses of any person who makes, or concurs in making, the company's statement of affairs;
- Next, the necessary disbursements of the Company Liquidator, other than expenses properly incurred in preserving, realising or getting in the company's properties;
- Next, the cost of any person properly employed by the Company Liquidator;
- Next, the costs, charges and expenses incurred by the liquidator; and
- Next, the actual out-of-pocket expenses necessarily incurred by members of the advisory committee and sanctioned by the Tribunal.
182(2). Save as the Tribunal orders, no payment on the bills of authorised representatives is allowed out of the company's assets without proof that the bills have been considered and allowed by the taxing officer of the Tribunal. The taxing officer must first satisfy himself that the appointment of the authorised representative to assist the liquidator was duly sanctioned.
182(3). The rule does not apply to or affect costs ordered by the Tribunal in which legal proceedings by or against the company are pending, to be paid by the company or the liquidator, or the rights of the person to whom those costs are payable.
Example. Maple Retail Ltd is wound up. After the assets are realised and the expenses of realisation are met, the rule 182 list applies. The taxed costs of the winding-up petition are paid first. Fees of a law firm engaged by the liquidator are paid only if the taxing officer has allowed the bill and confirmed the firm's appointment was sanctioned. Out-of-pocket expenses of advisory committee members come last on the list and only if the Tribunal has sanctioned them. A secured lender's rights remain unaffected by this order.
Process at a glance
| Step | Rule | Who | Period as printed | Form |
|---|---|---|---|---|
| Statement to Registrar with payment into the account | 179(1) | Liquidator | None | WIN 94 |
| Certify a claimant's entitlement | 179(2) | Liquidator, when called on by Registrar | None | Certificate (no form printed) |
| Realise invested unclaimed money and pay in | 180 | Liquidator | None | None printed |
| Claimant's application | 181 | Person claiming under section 352(6) | None | State whether Central Government was approached |
| Costs in order of priority | 182(1) | Tribunal and liquidator | None | Priority list |
| Bills of authorised representatives | 182(2) | Taxing officer | None | Taxing officer's allowance |
Need help with an unclaimed amount or a costs ranking?
Claimants often need to prove entitlement and show what they have already tried with the Central Government. Liquidators need to show the Tribunal that the order of payment was followed. Our team can help you prepare the papers; begin with legal dispute resolution.
Key takeaways
- A WIN 94 statement goes to the Registrar with each payment into the dividend and undistributed assets account.
- Invested or deposited unclaimed money counts as money in the liquidator's hand and must be paid in.
- A claimant must say whether he applied to the Central Government first, and with what result.
- Rule 182 sets a six-step priority list, subject to the Tribunal and to secured creditors.
- Authorised representatives' bills need the taxing officer's allowance and proof that their appointment was sanctioned.
Read next
- Rules 174–178 of the Winding Up Rules: dissolution of the company
- Rules 183–191 of the Winding Up Rules: costs, fees and inspection of the file
- Sections 349–353: liquidation money and the dividend account
Disclaimer: Based on the Companies Act, 2013 rules named above as consolidated in the MCA e-book (consulted on 3 October 2026), with the later notifications the article names. Later amendments, fees, forms and the Companies Act, 2013 provisions referred to should be checked. This article is general information, not legal advice; check the official text before acting.