Any money transferred to the Unpaid Dividend Account of a company which remains unpaid or unclaimed for a period of________________ shall be transferred by the company along with interest accrued, if any, thereon to the Investor Education and Protection Fund established

Q: Answer-Any money transferred to the Unpaid Dividend Account of a company which remains unpaid or unclaimed...

Section 124.Unpaid Dividend Account 5Any money transferred to the Unpaid Dividend Account of a company in pursuance of this section which remains unpaid or unclaimed for a period of seven years from the date of such transfer shall be transferred by the company along with interest accrued, if any, thereon to the Fund established under sub-section 1 of section 125 and the company shall send a statement in the prescribed form of the details of such transfer to the authority which administers the said Fund and that authority shall issue a receipt to the company as evidence of such transfer.

A Seven consecutive years Correct Incorrect

B Seven years from the date of transfer Correct Incorrect

C Seven years from the date of declaration Correct Incorrect

D Such period as the Board may decide Correct Incorrect

E Such period which the Central Government may prescribe Correct Incorrect

Detailed Solution

Section 124.Unpaid Dividend Account: (5)Any money transferred to the Unpaid Dividend Account of a company in pursuance of this section which remains unpaid or unclaimed for a period of seven years from the date of such transfer shall be transferred by the company along with interest accrued, if any, thereon to the Fund established under sub-section (1) of section 125 and the company shall send a statement in the prescribed form of the details of such transfer to the authority which administers the said Fund and that authority shall issue a receipt to the company as evidence of such transfer.

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Any money transferred to the Unpaid Dividend Account of a company which remains unpaid or unclaimed for a period of________________ shall be transferred by the company along with interest accrued, if any, thereon to the Investor Education and Protection Fund established

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