Is there a time limit for claiming unclaimed assets held by the State Authority?

No, as long as you are the rightful owner or beneficiary there is no time limit set out by law unless directed otherwise by the law. Holding institution will hold unclaimed funds in trust until the funds are claimed by the owner or beneficiaries. The Holding institution never takes ownership of the money, it is held for you until you claim it if at any time you can prove the money is yours.