https://www.taxtmi.com/caselaws?id=244710 Prosecution for alleged non-compliance with the obligation to file the statement of affairs and produce company records was treated as unsustainable where the ex-directors had sought time, produced available records, and later filed the required documents. The earlier judicial order condoning delay under Section 454 of the Companies Act, 1956, together with the discharge of some ex-directors and the lapse of time, materially changed the basis of the complaint. Continuation of proceedings under Section 538(1)(c) was therefore held unwarranted, and further proceedings before the Special Court were stayed as against the applicants. en-us Tue, 12 Nov 2013 00:00:00 +0530 Thu, 06 Mar 2014 06:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244710 Prosecution for alleged non-compliance with the obligation to file the statement of affairs and produce company records was treated as unsustainable where the ex-directors had sought time, produced available records, and later filed the required documents. The earlier judicial order condoning delay under Section 454 of the Companies Act, 1956, together with the discharge of some ex-directors and the lapse of time, materially changed the basis of the complaint. Continuation of proceedings under Section 538(1)(c) was therefore held unwarranted, and further proceedings before the Special Court were stayed as against the applicants. Case-Laws Companies Law Tue, 12 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244710