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Vikash ShrivastavaVikash Shrivastava asked 2 years ago
2 Answers
RaviRavi Staff answered 2 years ago

Sec 124
(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 adminis-ters the said Fund and that authority shall issue a receipt to the company as evidence of such transfer.
Sec 125
Transfer to IEPF

the amount in the Unpaid Dividend Account of companies transferred to the Fund under sub-section (5) of section 124;

IEPF Rule 3
Transfer to IEPF

all amounts payable as mentioned in clause (a) to (n) of sub-section (2) of section 125 of the Act;

It says a to n, so it covers (c) from Sec 125 as it is.
For Dividend they dont use phrase unpaid and unclaimed , they use unpaid or unclaimed only

RaviRavi Staff answered 2 years ago

You can see below video, for more clarification.

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