https://www.taxtmi.com/caselaws?id=300104 It explains that a default in filing the statement of affairs under Section 454 is punishable only when it is made without reasonable excuse, so the complainant must first establish the absence of justification. The text notes that where an ex-director claims lack of access to company records and the evidence does not show possession of all material documents or wilful default, the prosecution fails to prove the offence. It also states that Section 633 may relieve an officer who acted honestly and reasonably, with the result that the conviction was not sustainable and acquittal followed. en-us Mon, 28 Jan 2013 00:00:00 +0530 Wed, 12 Jan 2022 12:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300104 It explains that a default in filing the statement of affairs under Section 454 is punishable only when it is made without reasonable excuse, so the complainant must first establish the absence of justification. The text notes that where an ex-director claims lack of access to company records and the evidence does not show possession of all material documents or wilful default, the prosecution fails to prove the offence. It also states that Section 633 may relieve an officer who acted honestly and reasonably, with the result that the conviction was not sustainable and acquittal followed. Case-Laws Indian Laws Mon, 28 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300104