General Studies · Companies Act 2013
Under Section 124 of the Companies Act, 2013, any dividend that remains unpaid or unclaimed after 30 days from the date of declaration must be transferred within 7 days to:
- 1The Investor Protection Cell of the stock exchange
- 2The Unpaid Dividend Account opened in a scheduled bank✓
- 3The Dividend Equalisation Fund
- 4The General Reserve of the company
Correct answer
The Unpaid Dividend Account opened in a scheduled bank
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