alleryStart learning →The initial penalty on each officer in default under Section 124(7) is
ARs 50,000
BRs 25,000
CRs 10,000
DRs 1 lakh
Answer & Solution
Correct answer: B. Rs 25,000
An officer in default faces twenty-five thousand rupees, plus a hundred rupees a day for continuing failure up to two lakh.
Keep practising Declaration and Payment of Dividend
Browse all Declaration and Payment of Dividend questions for CA Inter, or explore more Law topics.
Related questions
Dividends on preferred shares must be paid before those onThe most common form of dividend payment isSince Budget 2020-21, what has happened to India's DDT?A payout ratio above 100% means the company paidDeclaring a dividend creates what in the company's books?Only holders registered on which date receive the dividend?On and after the ex-dividend date, a buyer of the shareDividends paid before the AGM and final accounts are