Strike in the postal department could be a valid reason for delay in dispatch of dividend warrants.

Section 127 of the Companies Act, 2013 provides that dividend shall be paid or dividend warrant shall be posted within period of thirty days from date of declaration of dividend; otherwise the company and the defaulting directors will be liable for default. However, proviso to section 127 of the Act further provides a list of situations where no offence under this section shall be deemed to have been committed:- where the dividend could not be paid by reason of the operation of any law; where a shareholder has given directions to the company regarding the payment of the dividend and those directions cannot be complied with and the same has been communicated to him; where there is a dispute regarding the right to receive the dividend; where the dividend has been lawfully adjusted by the company against any sum due to it from the shareholder; where, for any other reason, the failure to pay the dividend or to post the warrant within the period under this section was not due to any default on the part of the company. In this case, delay has taken place due to strike in the postal department and it can be attributed as "for any other reason" and without any default on the part of company. Hence, the Statement is correct.