What is the consequence for distributing profits or interests in violation of the law according to Article 348 of Federal Decree Law No. (32) of 2021 on Commercial Companies?
Any manager or director who distributes profits or interests in violation of the provisions of this Decree Law or the MOA or AOA of the Company, and any auditor who approves such distribution despite knowing the violation, can be sentenced to imprisonment for a term between six months and three years and/or fined between AED 50,000 and AED 500,000.