https://www.taxtmi.com/acts?id=17423 If a declared dividend is not paid or its warrant not posted within thirty days, directors knowingly party to the default face imprisonment up to two years and daily fines, while the company must pay simple interest at eighteen percent per annum for the default period; statutory exceptions relieve liability where payment is prevented by law, compliant directions from the shareholder cannot be followed, entitlement is disputed, the dividend is lawfully adjusted against sums due to the company, or the failure was not due to the company's default. en-us Sat, 02 Mar 2013 12:17:57 +0530 Wed, 03 Dec 2025 17:09:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17423 If a declared dividend is not paid or its warrant not posted within thirty days, directors knowingly party to the default face imprisonment up to two years and daily fines, while the company must pay simple interest at eighteen percent per annum for the default period; statutory exceptions relieve liability where payment is prevented by law, compliant directions from the shareholder cannot be followed, entitlement is disputed, the dividend is lawfully adjusted against sums due to the company, or the failure was not due to the company's default. Act-Rules Companies Law Sat, 02 Mar 2013 12:17:57 +0530 https://www.taxtmi.com/acts?id=17423