1 Replies
Sai Chandu Reddy
(CA Article Assisstant)
(159 Points)
Replied 01 November 2019
As per Section 127 of Companies Act,2013 if declared dividend is not paid within 30days from the date of declaration:
1.every director of company,if he is knowingly a party to the default, be punishable with imprisonment which may extend to 2 years and fine shall not be less than 1000rupees for every day until the default continues
2.company is liable to pay 18%p.a interest until the default continues.
1.every director of company,if he is knowingly a party to the default, be punishable with imprisonment which may extend to 2 years and fine shall not be less than 1000rupees for every day until the default continues
2.company is liable to pay 18%p.a interest until the default continues.
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