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2009 (2) TMI 467 - HIGH COURT OF PUNJAB AND HARYANAWinding up - Statement of affairs to be made to Official Liquidator - Held that:- The date of winding up or the order of appointment of provisional liquidator shall first be ascertained. Any person who shall answer the description of a director coming within the definition of section 2(13) of the Companies Act and the classes of persons as detailed under section 454(2), clauses (a) to (d), shall be answerable to give the statement of affairs of the company. Production of copy of resignation letter or entries in Form No. 32 shall not be conclusive evidence of whether a person was a director or not at the relevant time. It would be a matter of proof of fact that the official liquidator shall consider before lodging a complaint and at times, may itself be a subject of adjudication at the trial. The liability of such director shall be within 21 days from the relevant date or within such time not exceeding three months from the date as the official liquidator or the court may grant for special reasons. The action of the official liquidator shall be merely subject to the directions of the court and will require no prior sanction to initiate action. If there is a default on the part of the person liable to give the statement of affairs under the above circumstances within time, the official liquidator is entitled to assume that there is no reasonable excuse and by making express statement that there was no reasonable excuse to make such default, he could make a complaint to the court for action for the offence under section 454(5) by resorting to the provisions of section 454(5A).
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