https://www.taxtmi.com/caselaws?id=112809 Section 454 of the Companies Act, 1956 ties the duty to furnish and verify the statement of affairs to persons who answer the statutory description on the relevant date, including ex-directors and nominee directors if they were within the covered classes. It further states that the official liquidator does not need prior court sanction to initiate default proceedings, though action remains subject to court directions. For non-filing, the liquidator must first prove the default and availability of the facility to prepare the statement, after which the burden shifts to the person proceeded against to establish a reasonable excuse. en-us Thu, 19 Feb 2009 00:00:00 +0530 Mon, 17 Nov 2014 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112809 Section 454 of the Companies Act, 1956 ties the duty to furnish and verify the statement of affairs to persons who answer the statutory description on the relevant date, including ex-directors and nominee directors if they were within the covered classes. It further states that the official liquidator does not need prior court sanction to initiate default proceedings, though action remains subject to court directions. For non-filing, the liquidator must first prove the default and availability of the facility to prepare the statement, after which the burden shifts to the person proceeded against to establish a reasonable excuse. Case-Laws Companies Law Thu, 19 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112809