Law · Company Law
As per the Companies Act, 2013, if declared dividends are not paid within 30 days, every director who is knowingly a party to the default shall be punishable with imprisonment which may extend to _______ and a minimum fine of Rs. 1,000 per day during which the default continues.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Up to 3 years and minimum Rs. 2000/day fine
- 2Up to 2 years and minimum Rs. 1000/day fine✓
- 3Up to 2 years and minimum Rs. 5000/day fine
- 4Up to 3 years and minimum Rs. 1000/day fine
Correct answer
Up to 2 years and minimum Rs. 1000/day fine
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