"Filing of Statement of Affairs by the Directors of the Company on which a prima facie case is felt by the Tribunal, is a pre-requisite to oppose such winding-up Petition pending in terms of Companies Act, 2013". Furnish

Section 274 of the Companies Act, 2013 lays down that in case, where the Tribunal is satisfied that on a petition that the winding up of the company is to be made out, it may by an order direct the company to file its objections along with a statement of its affairs within thirty days of the order which can be allowed a further period of thirty days in a situation of contingency or special circumstances. In case of failure, the company and its directors may forfeit the right to file any objection and also liable for punishment of imprisonment and fine. For any prosecution for default by directors or officers of the Company, the complaint may be filed before the special court in terms of Section 274(5). As such, filing of Statement of Affairs by the directors is an absolute necessity in case the Company has objection points.