https://www.taxtmi.com/caselaws?id=99061 The court acquitted the accused directors, Shri Jagjit Singh Sawhney and Shri Gurcharan Singh Sawhney, in a case concerning compliance with Section 454(5A) of the Companies Act, 1956. The directors were found to have a reasonable excuse for not submitting the statement of affairs within the specified timeframe due to the seizure of company records by the C.I.D., Crime Branch. The court considered the difficulties faced by the directors in accessing the records and the failure of the official liquidator to retrieve them, ultimately leading to the acquittal of the accused directors. en-us Tue, 25 Sep 1973 00:00:00 +0530 Wed, 25 Jan 2012 10:38:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99061 The court acquitted the accused directors, Shri Jagjit Singh Sawhney and Shri Gurcharan Singh Sawhney, in a case concerning compliance with Section 454(5A) of the Companies Act, 1956. The directors were found to have a reasonable excuse for not submitting the statement of affairs within the specified timeframe due to the seizure of company records by the C.I.D., Crime Branch. The court considered the difficulties faced by the directors in accessing the records and the failure of the official liquidator to retrieve them, ultimately leading to the acquittal of the accused directors. Case-Laws Companies Law Tue, 25 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99061