https://www.taxtmi.com/caselaws?id=112684 Ex-directors who had resigned long before the relevant date could not be compelled to file a statement of affairs under section 454 of the Companies Act, 1956 on a mere notice; for ex-officers, the Official Liquidator had to obtain a Company Court direction, and the notice issued without such direction was invalid. Criminal liability under section 454(5) also required proof that the default was without reasonable excuse. Where the managing director had not received the company records and had informed the Official Liquidator that he could not prepare the statement, the absence of reasonable excuse was not proved. en-us Wed, 15 Oct 2008 00:00:00 +0530 Tue, 25 Nov 2014 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112684 Ex-directors who had resigned long before the relevant date could not be compelled to file a statement of affairs under section 454 of the Companies Act, 1956 on a mere notice; for ex-officers, the Official Liquidator had to obtain a Company Court direction, and the notice issued without such direction was invalid. Criminal liability under section 454(5) also required proof that the default was without reasonable excuse. Where the managing director had not received the company records and had informed the Official Liquidator that he could not prepare the statement, the absence of reasonable excuse was not proved. Case-Laws Companies Law Wed, 15 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112684