Identify the error in the following sentence: (a) Each student was meant to receive (b) an equal share of the scholarship but the eventual distribution (c) was found to be iniquitous. (d) No error.

All three underlined parts are grammatically correct and contextually appropriate. 'Each student was meant to receive' uses correct singular agreement with 'each'. The contrast with 'but the eventual distribution' is logical. 'Iniquitous' means grossly unfair or morally wrong, which correctly describes an unequal distribution of a scholarship meant to be equal. Hence, the answer is 'No error'.