Unpaid Dividend Account – Penalties for non -compliance on unpaid dividend by company has been reduced to Rs.1 Lakh and in case of continuing failure, further penalty of five hundred rupees for each day of default subject to a maximum of ten lakh rupees and every officer of the company who is in default shall be liable to a penalty of twenty-five thousand rupees and in case of continuing failure further penalty of one hundred rupees for each day of default subject to a maximum of two lakh rupees from 24th March 2021.
( Section 124 (7) of Companies Act, 2013.)
