Unclaimed dividend remaining unpaid in the Unpaid Dividend Account for 7 years must be transferred to:

1. Section 124(5) — amount remaining unpaid/unclaimed for 7 years from the date of transfer to the Unpaid Dividend Account must be moved to the IEPF. 2. Corresponding shares are also transferred to IEPF. 3. Hence (C). _Source: ICAI BoS CA Inter Paper 2 — Declaration and Payment of Dividend_