https://www.taxtmi.com/caselaws?id=217613 A direction to file a statement of affairs under Section 454 of the Companies Act, 1956 should not be issued against a former director who is not in a position to furnish the required information. Liability cannot be imposed mechanically where the person had resigned long before winding up, had no access to company records, and no practical means of complying; prosecution in such circumstances would be an empty formality. On the facts, the nominee director's prior resignation, lack of involvement in management, and absence of access to the books meant continuation of prosecution was unwarranted and discharge was justified. en-us Wed, 04 Jul 2012 00:00:00 +0530 Wed, 13 Feb 2013 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217613 A direction to file a statement of affairs under Section 454 of the Companies Act, 1956 should not be issued against a former director who is not in a position to furnish the required information. Liability cannot be imposed mechanically where the person had resigned long before winding up, had no access to company records, and no practical means of complying; prosecution in such circumstances would be an empty formality. On the facts, the nominee director's prior resignation, lack of involvement in management, and absence of access to the books meant continuation of prosecution was unwarranted and discharge was justified. Case-Laws Companies Law Wed, 04 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217613