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Question
Select the correct answer from the options given below and rewrite the statement.
IEPF is created by ______________ where unpaid dividend is transferred by company.
Options
Central Govt.
Company
Shareholders
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Solution
IEPF is created by Central Govt. where unpaid dividend is transferred by company.
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The Dividend to be paid should be transferred to Dividend A/c within 30 days of its declaration.
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Unpaid dividend cannot be used by the company.
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Dividend is paid to creditors.
Answer in brief.
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Unpaid dividends cannot be used by the company.
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Justify the following statement.
Unpaid/Unclaimed Dividend is governed by some rules.
