https://www.taxtmi.com/caselaws?id=99627 Section 454 of the Companies Act, 1956 empowers the official liquidator, under court direction, to require former directors and other past officers to submit and verify a statement of affairs, and Rule 125 of the Companies (Court) Rules, 1959 does not curtail that statutory power. The phrase "have been officers" in section 454(2)(a) is broad enough to include persons who held office at any time, not only those in office immediately before the relevant date. The time-limit in section 454(3) and the penal consequence in section 454(5) apply only to the category bound to file without requisition, and do not limit liability where the statement is required on requisition from the official liquidator. en-us Mon, 07 Aug 1978 00:00:00 +0530 Sat, 28 Jan 2012 11:27:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99627 Section 454 of the Companies Act, 1956 empowers the official liquidator, under court direction, to require former directors and other past officers to submit and verify a statement of affairs, and Rule 125 of the Companies (Court) Rules, 1959 does not curtail that statutory power. The phrase "have been officers" in section 454(2)(a) is broad enough to include persons who held office at any time, not only those in office immediately before the relevant date. The time-limit in section 454(3) and the penal consequence in section 454(5) apply only to the category bound to file without requisition, and do not limit liability where the statement is required on requisition from the official liquidator. Case-Laws Companies Law Mon, 07 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99627