New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    All shares in respect of which dividend has not been

    paid or claimed for seven consecutive years or more shall be transferred by the company to ______
    A Unclaimed Dividend Account Correct Answer Incorrect Answer
    B Investor Education and Protection Fund Correct Answer Incorrect Answer
    C Investors Education and Portfolio Fund Correct Answer Incorrect Answer
    D Contingency Fund of India Correct Answer Incorrect Answer
    E Either of the above as may be chosen by the company Correct Answer Incorrect Answer

    Solution

    Section 124 of Companies Act 2013 - Unpaid Dividend Account-(6) All shares in respect of which dividend hasnot been paid or claimed for seven consecutive years or more shall be transferred bythe company in the name of Investor Education and Protection Fund along with a statementcontainingsuchdetailsasmaybeprescribed

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