The officers and directors of a company under liquidation must, according to section 454 read with section 511 A, make out and submit, within 21 days of the Tribunal’s order (or within such extended time, not exceeding 3 months, as the liquidator or the Tribunal may allow), a statement showing the following:—
(a) The assets of the company, stating separately the cash balance in hand and at bank, if any, and the negotiable securities, if any, held by the company;
(b) Its debts and liabilities;
(c) The names, residences and occupations of its creditors, stating separately the amount of secured and unsecured debts and in the case of secured debts, particulars of the securities given, whether by the company or its officers, their value and the dates on which they were given;
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(d) The debts due to the company and the names, residences and occupations of the persons from whom they are due and the amount likely to be realised on account thereof;
(e) Such further or other information as may be prescribed, or as the Official Liquidator may require.
The statement has to be prepared even in case of voluntary winding up.
The statement has to be properly verified by an affidavit. It has to be open for inspection by any person stating himself in writing to be a creditor or contributory of the company, on payment of prescribed fee. The person concerned can also acquire a copy or extract from it.
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The form in which it has to be made out has been prescribed by the Supreme Court; it is given below:—
Illustration 1:
The following information was extracted from the books of a limited company on 31st March, 2012 on which date a winding up order was made:
