Interest on late payment of dividend

pratik upadhyay (AUDIT COMPLIANCE OFFICER)   (469 Points)

23 November 2016  

Dear All,

I refer Paduka Corp Law book For CA Final (May 2016 edition.)

As I was reading Dividend Chapter , I observed that interest on late payment of dividend is 18%, however end the end of the chapter there's a section with title "Companies Act 1956 provisions still relevant". In this section the interest rate is 12%.

I wish to know what % will be payable for delay in late payment of dividend for FY 2015-16 and FY 2016-17.