Chapter 9: Distribution of Profits Flashcards
company is required to pay dividend within what days after its declaration
10 working days
book closure must be started within what days of approval of dividend by directors
15 days
a company has power to close books for a maximum of what days in the whole year? can it be extended?
30 days, commission can extend it for 15 days
a prior notice of what time should be given to members before book closure?
7 days
if dividend is not paid timely, what is the term of imprisonment for the CEO
2 years
in 6 certain cases, CEO can withhold the dividend after obtaining approval of commission within what days of declaration of dividend?
45 days
if dividend is not paid timely, chief executive of a company shall be ineligible to become director or chief executive of any company up to a period of what years?
5 years
