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    Question

    As per Section 127 of the Companies Act, 2013, in

    relation to punishment for failure to distribute dividends, where a dividend has been declared by a company but has not been paid or the warrant in respect thereof has not been posted within thirty days from the date of declaration to any shareholder entitled to the payment of the dividend, every director of the company shall, if he is knowingly a party to the default, be punishable with imprisonment which may extend to ___________.
    A 20 years Correct Answer Incorrect Answer
    B 5 years Correct Answer Incorrect Answer
    C 2 years Correct Answer Incorrect Answer
    D 10 years Correct Answer Incorrect Answer

    Solution

    The correct answer is C

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