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(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 an officer
thereof, their value and the dates on which they were given ;
(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.
(2) The statement shall be submitted and verified by one or more of the persons who are at the relevant date the
directors and by the person who is at that date the manager, secretary or other chief officer of the company, or by
such of the persons hereinafter in this sub-section mentioned, as the Official Liquidator, subject to the direction of the
1
[Tribunal], may require to submit and verify the statement, that is to say, persons -
(a) who are or have been officers of the company ;
(b) who have taken part in the formation of the company at any time within one year before the relevant date ;
(c) who are in the employment of the company, or have been in the employment of the company within the said year,
and are, in the opinion of the Official Liquidator, capable of giving the information required ;
(d) who are or have been within the said year officers of, or in the employment of, a company which is, or within the
said year was, an officer of the company to which the statement relates.
(3) The statement shall be submitted within twenty-one days from the relevant date, or within such extended time not
exceeding three months from that date as the Official Liquidator or the
1
[Tribunal] may, for special reasons, appoint.
(4) Any person making, or concurring in making, the statement and affidavit required by this section shall be allowed,
and shall be paid by the Official Liquidator or provisional liquidator, as the case may be, out of the assets of the
company, such costs and expenses incurred in and about the preparation and making of the statement and affidavit
as the Official Liquidator may consider reasonable, subject to an appeal to the
1
[Tribunal].
(5) If any person, without reasonable excuse, makes default in complying with any of the requirements of this section,
he shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to
2
[one thousand] rupees for every day during which the default continues, or with both.
(5A) The
1
[Tribunal] by which the winding up order is made or the provisional liquidator is appointed, may take
cognisance of an offence under sub-section (5) upon receiving a complaint of facts constituting such an offence and
trying the offence itself in accordance with the procedure laid down in the Code of Criminal Procedure, 1898
(5 of
1898), for the trial of summons cases by magistrates.
(6) Any person stating himself in writing to be a creditor or contributory of the company shall be entitled, by himself or
by his agent, at all reasonable times, on payment of the prescribed fee, to inspect the statement submitted in
pursuance of this section, and to a copy thereof or extract therefrom.
(7) Any person untruthfully so stating himself to be a creditor or contributory shall be guilty of an offence under section
182
of the Indian Penal Code (45 of 1860) ; and shall, on the application of the Official Liquidator, be punishable
accordingly. (8) In this section, the expression "the relevant date" means, in a case where a provisional liquidator is
appointed, the date of his appointment, and in a case where no such appointment is made, the date of the winding up
order.
1. Substituted for "Court" by the Companies (Second Amendment) Act, 2002 (w.e.f. a date yet to be notified)
2. Substituted for "one hundred" by the Companies (Amendment) Act, 2000 w.e.f. 13-12-2000.
455. REPORT BY OFFICIAL LIQUIDATOR
(1) In a case where a winding up order is made, the Official Liquidator shall, as soon as practicable after receipt of the
statement to be submitted under section 454 and not later than six months from the date of the order or such
extended period as may be allowed by the
1
[Tribunal], or in a case where the
1
[Tribunal] orders that no statement
need be submitted, as soon as practicable after the date of the order, submit a preliminary report to the
1
[Tribunal] -
(a) as to the amount of capital issued, subscribed, and paid-up, and the estimated amount of assets and liabilities,
giving separately, under the heading of assets, particulars of (i) cash and negotiable securities ; (ii) debts due from
contributories ; (iii) debts due to the company and securities, if any, available in respect thereof ; (iv) movable and
immovable properties belonging to the company ; and (v) unpaid calls ;
(b) if the company has failed, as to the causes of the failure ; and
(c) whether, in his opinion, further inquiry is desirable as to any matter relating to the promotion, formation, or failure of
the company, or the conduct of the business thereof.
(2) The Official Liquidator may also, if he thinks fit, make a further report, or further reports, stating the manner in
which the company was promoted or formed and whether in his opinion any fraud has been committed by any person
in its promotion or formation, or by any officer of the company in relation to the company since the formation thereof,
and any other matters which, in his opinion, it is desirable to bring to the notice of the
1
[Tribunal].
(3) If the Official Liquidator states in any such further report that in his opinion a fraud has been committed as
aforesaid, the
1
[Tribunal] shall have the further powers provided in section 478.
1. Substituted for "Court" by the Companies (Second Amendment) Act, 2002 (w.e.f. a date yet to be notified)
456. CUSTODY OF COMPANY'S PROPERTY
(1) Where a winding up order has been made or where a provisional liquidator has been appointed, the liquidator or
the provisional liquidator, as the case may be, shall take into his custody or under his control, all the property, effects
and actionable claims to which the company is or appears to be entitled.