Corporate and Other LawsMCQQuestion 12551 of 300
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Under Section 124(5) of the Companies Act, 2013, any money transferred to the Unpaid Dividend Account of a company which remains unpaid or unclaimed for a period of how many years from the date of such transfer shall be transferred to the Investor Education and Protection Fund (IEPF)?

Select Your Answer (Keyboard: A, B, C, D)
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Correct Answer

✅ Option A — Seven consecutive years

All Options:

  • ASeven consecutive years ✓
  • BFive consecutive years
  • CThree consecutive years
  • DTen consecutive years

Detailed Solution & Explanation

Correct Answer: Option **A** (Seven consecutive years) **Statutory Provision (Section 124 - Transfer of Unclaimed Dividend to IEPF):** Section 124(5) mandates that any money transferred to the Unpaid Dividend Account 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 to IEPF. Therefore, Option A is the correct legal position under the ICAI curriculum.

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