https://www.taxtmi.com/caselaws?id=111343 Cessation of directorship before a winding up order can displace the duty to file a statement of affairs under section 454 of the Companies Act, 1956. Here, the directors produced evidence that notice of cessation had been sent to the Registrar of Companies with Form No. 32 before the winding up order, and the official liquidator's verification confirmed that two Forms No. 32 had been filed and taken on record. On that basis, cessation prior to winding up was accepted, so the statutory obligation to file the statement of affairs did not apply to respondents Nos. 1 to 3 and penal action failed. en-us Tue, 31 Oct 2006 00:00:00 +0530 Mon, 23 Apr 2012 11:25:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111343 Cessation of directorship before a winding up order can displace the duty to file a statement of affairs under section 454 of the Companies Act, 1956. Here, the directors produced evidence that notice of cessation had been sent to the Registrar of Companies with Form No. 32 before the winding up order, and the official liquidator's verification confirmed that two Forms No. 32 had been filed and taken on record. On that basis, cessation prior to winding up was accepted, so the statutory obligation to file the statement of affairs did not apply to respondents Nos. 1 to 3 and penal action failed. Case-Laws Companies Law Tue, 31 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111343