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of <h1>Directors face imprisonment and fines for failing to distribute dividends within 30 days under Section 207 of Companies Act 1956.</h1> Under Section 207 of the Companies Act, 1956, if a company fails to distribute declared dividends within thirty days, directors knowingly involved in the default face up to three years of simple imprisonment and a fine of one thousand rupees per day of default. The company must also pay 18% annual interest during the default period. Exceptions include legal prohibitions, shareholder instructions that cannot be followed, disputes over entitlement, lawful adjustments against shareholder debts, or non-default-related reasons for the delay.
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