Unclaimed Dividends

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Place for unclaimed didvidend in servicesWhat are the Statutory provisions governing unclaimed dividend?
With effect from October 31, 1998, any money transferred to the ‘unpaid dividend account’ of the Company and remaining unpaid or unclaimed for a period of 7 years from the date it becomes due, shall be transferred to the Investor Education and Protection Fund (IEPF). Investors are requested to note that no claims shall lie against the Company or IEPF for any moneys transferred to IEPF in accordance with the provisions of Section 205C of the Companies Act, 1956.