https://www.taxtmi.com/caselaws?id=101060 The court acquitted both accused individuals in a case under section 454(5) of the Companies Act, 1956. The complaint against them, regarding the failure to file the statement of affairs of a company in liquidation, lacked substantiation of their directorship at the relevant time. The court found no evidence of their directorship status during the winding-up order, leading to their acquittal. Additionally, one accused was not validly elected as a director, and the other's claim of technical directorship lacked proof. The court accepted the spoiled company records and unhelpful statement of affairs as a reasonable excuse for non-compliance, resulting in the dismissal of the complaint. en-us Tue, 25 Oct 1983 00:00:00 +0530 Wed, 08 Feb 2012 13:59:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101060 The court acquitted both accused individuals in a case under section 454(5) of the Companies Act, 1956. The complaint against them, regarding the failure to file the statement of affairs of a company in liquidation, lacked substantiation of their directorship at the relevant time. The court found no evidence of their directorship status during the winding-up order, leading to their acquittal. Additionally, one accused was not validly elected as a director, and the other's claim of technical directorship lacked proof. The court accepted the spoiled company records and unhelpful statement of affairs as a reasonable excuse for non-compliance, resulting in the dismissal of the complaint. Case-Laws Companies Law Tue, 25 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101060