https://www.taxtmi.com/caselaws?id=104913 The High Court of Punjab & Haryana held that all directors, including nominee directors, are liable for not filing a statement of affairs under section 454(5) of the Companies Act, 1956. The court clarified that liability arises only if the individual held the directorial status on the date of the winding-up order. Directors who resigned or were removed before the winding up were absolved from liability. However, directors without conclusive evidence of their status were directed to provide supporting documents for assessment. The judgment emphasized equal accountability for compliance with the Act's provisions among all directors. en-us Thu, 26 Aug 1999 00:00:00 +0530 Thu, 01 Mar 2012 17:32:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104913 The High Court of Punjab & Haryana held that all directors, including nominee directors, are liable for not filing a statement of affairs under section 454(5) of the Companies Act, 1956. The court clarified that liability arises only if the individual held the directorial status on the date of the winding-up order. Directors who resigned or were removed before the winding up were absolved from liability. However, directors without conclusive evidence of their status were directed to provide supporting documents for assessment. The judgment emphasized equal accountability for compliance with the Act's provisions among all directors. Case-Laws Companies Law Thu, 26 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104913