https://www.taxtmi.com/caselaws?id=103484 Section 454 of the Companies Act, 1956 attaches the duty to file and verify a statement of affairs to persons who are directors or chief officers on the relevant date, while other persons can be required to comply only on notice from the official liquidator or on court direction. An ex-director who had resigned long before the winding-up order, and against whom no material showed possession of the company's books, papers, or necessary information, cannot be treated as in default without a reasonable excuse. The statutory basis for proceeding against such a person must be established by proof of status or capability to furnish the information. en-us Tue, 05 Oct 1993 00:00:00 +0530 Thu, 23 Feb 2012 11:34:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103484 Section 454 of the Companies Act, 1956 attaches the duty to file and verify a statement of affairs to persons who are directors or chief officers on the relevant date, while other persons can be required to comply only on notice from the official liquidator or on court direction. An ex-director who had resigned long before the winding-up order, and against whom no material showed possession of the company's books, papers, or necessary information, cannot be treated as in default without a reasonable excuse. The statutory basis for proceeding against such a person must be established by proof of status or capability to furnish the information. Case-Laws Companies Law Tue, 05 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103484