2010 (12) TMI 1361 - HC - Companies Law

Summary

The Official Liquidator filed an application against the respondents under section 454 of the Companies Act for not filing the statement of affairs. The court found that the respondents, as Directors of the company, faced difficulties due to a fire accident that destroyed company assets. The court concluded that the Official Liquidator failed to prove negligence or intentional wrongdoing by the respondents, leading to the dismissal of the application and discharge of the respondents.