Dividend amount of ₹ 50,000 was not paid to the successor of Late Mr. Mohan, in view ofthe court order restraining the payment due to family dispute about succession.You are required to analyse these cases with reference to provisions of the Companies Act,2013 regarding failure to distribute dividends

Under the Companies Act, 2013, there are specific provisions that deal with the failure to distribute dividends.

1. Section 127 of the Companies Act, 2013: This section states that if a dividend has been declared by a company but has not been paid or the warrant in respect thereof has not been posted within 30 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 two years and with fine which shall not be less than one thousand rupees for every day during which such default continues.

2. However, the section also provides that no offence shall be deemed to have been committed if the dividend could not be paid by reason of the operation of any law. In this case, the court order restraining the payment due to a family dispute about succession would fall under this exception.

3. The company is required to transfer the unpaid amount to a special account within 7 days from the expiry of the 30 days period. If the company fails to comply with this requirement, it will be punishable with fine which shall not be less than the amount due for dividend.

4. If the dividend remains unpaid for a period of 7 years from the date of transfer to the special account, it will be transferred to the Investor Education and Protection Fund.

In conclusion, in the given case, the company is not in violation of the Companies Act, 2013 as the failure to pay the dividend is due to the operation of a law (the court order). However, the company must ensure that the unpaid amount is transferred to a special account within the stipulated time period.