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      Question

      As per Companies Act, 2013, if the dividend remains

      unclaimed, a company should transfer the dividend to Unpaid Dividend Account within 7 days of expiry of ______
      A 5 days from the date of declaration of dividend Correct Answer Incorrect Answer
      B 7 days from the date of declaration of dividend Correct Answer Incorrect Answer
      C 25 days from the date of declaration of dividend Correct Answer Incorrect Answer
      D 30 days from the date of declaration of dividend Correct Answer Incorrect Answer
      E 35 days from the date of declaration of dividend Correct Answer Incorrect Answer

      Solution

      Section 124 of the Companies Act, 2013 states that In case where dividend remained unpaid or unclaimed within 30 days from the date of declaration, the amount is to be transferred to ‘Unpaid Dividend Account’ within 7 days from expiry of such 30 day period.

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