https://www.taxtmi.com/caselaws?id=99380 The court held that directors have statutory duties even after a winding-up order, including signing financial statements and providing explanations to auditors. Resignation does not absolve directors from explaining activities during their tenure. The court directed directors to appear before auditors to address queries and submit acceptance of stock inventory. Verification costs were to be borne by banks and the scheme sponsor. The court did not order costs for the summons. en-us Fri, 24 Dec 1976 00:00:00 +0530 Fri, 27 Jan 2012 11:28:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99380 The court held that directors have statutory duties even after a winding-up order, including signing financial statements and providing explanations to auditors. Resignation does not absolve directors from explaining activities during their tenure. The court directed directors to appear before auditors to address queries and submit acceptance of stock inventory. Verification costs were to be borne by banks and the scheme sponsor. The court did not order costs for the summons. Case-Laws Companies Law Fri, 24 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99380