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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Guidelines for Preparing a Statement of Affairs under Section 454 of Companies Law for Liquidation Process.</h1> The procedure for preparing a statement of affairs under section 454 of the Companies Law, as per the Company Court Rules, 1959. It requires a detailed declaration of the financial status of a company at the time of a winding-up order or appointment of a provisional liquidator. The statement includes lists of assets, liabilities, secured and unsecured creditors, and shareholders. Specific schedules detail assets not pledged, trade debtors, loans, unpaid calls, and stock in trade. The document emphasizes the necessity of accuracy and completeness in the affidavit, with a commissioner for oaths validating the statement.
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