https://www.taxtmi.com/caselaws?id=212867 The court exonerated the former Directors of the respondent company from allegations of failure to file the Statement of Affairs within the stipulated timeframe under the Companies Act. Despite the significant delay in filing, the court considered the disruptions caused by the possession takeover and theft incidents, acknowledging the respondents' efforts to gather necessary information. Consequently, the court found that the respondents had a reasonable cause for the delay and dismissed the application, absolving them of any wrongdoing. en-us Wed, 28 Mar 2012 00:00:00 +0530 Fri, 27 Apr 2012 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212867 The court exonerated the former Directors of the respondent company from allegations of failure to file the Statement of Affairs within the stipulated timeframe under the Companies Act. Despite the significant delay in filing, the court considered the disruptions caused by the possession takeover and theft incidents, acknowledging the respondents' efforts to gather necessary information. Consequently, the court found that the respondents had a reasonable cause for the delay and dismissed the application, absolving them of any wrongdoing. Case-Laws Companies Law Wed, 28 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212867