Interest on late payment of dividend

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AUDIT COMPLIANCE OFFICER
469 Points Posted on 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.

 

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On 23 November 2016 at 12:33 Report
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30 Points Posted on 25 November 2016
MCA notification dated 12th September 2013 , given list of sections applicable from 12 th September 2016. In that notification section 127 is there. so interest on late payment of dividend is 18 % from 12 th September 2013.
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On 25 November 2016 at 13:58

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