alleryStart learning →If dividend is claimed in any one year of the seven-year period, then
Athe shares are forfeited
Ball dividends are refunded
Cthe shares are cancelled
Dthe shares are not transferred
Answer & Solution
Correct answer: D. the shares are not transferred
The Explanation to Section 124(6) says that if dividend is paid or claimed in any year of the period, the shares escape transfer to the Fund.
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