Nona Sona Exports Pvt. Ltd. Faces Liquidation, Directors Prosecuted for Non-Compliance

The company, Nona Sona Exports Pvt. Ltd., faced liquidation following a winding-up petition by a creditor due to substantial unpaid liabilities. Despite attempts to set aside the winding-up order, the company failed. Prosecution against directors is ongoing for not submitting the statement of affairs, with a warrant issued at one point for a director's production. The court rejected a petition for company revival under section 391 of the Companies Act due to a lack of credibility in the proposed scheme, emphasizing the need for compliance with possession delivery to the landlord within a specified timeframe.

---

---

Issues:
- Winding-up petition leading to liquidation of the company
- Prosecution against directors for failure to file statement of affairs
- Landlord seeking restoration of premises due to rent arrears
- Applications to prevent delivery of possession by managing director
- Petition under section 391 of the Companies Act for company revival

Winding-up Petition and Liquidation:
The company, Nona Sona Exports Pvt. Ltd., faced liquidation following a winding-up petition by a creditor due to substantial unpaid liabilities. Despite attempts to set aside the winding-up order, the company failed. Prosecution against directors is ongoing for not submitting the statement of affairs, with a warrant issued at one point for a director's production.

Landlord's Restoration Application:
The landlord sought restoration of premises due to significant rent arrears, leading to a court direction for possession delivery. The managing director made multiple attempts to prevent possession delivery, citing agreements for company revival, but the court found these claims unsubstantiated.

Petition for Company Revival:
A petition under section 391 of the Companies Act was filed for the company's revival, proposing a scheme. The court reviewed the scheme and found it lacking credibility, suggesting its purpose was to delay possession delivery. The company's financial status, lack of balance sheets, and substantial debts were highlighted, leading to the rejection of the revival scheme.

Legal Proceedings and Possession Delivery:
Separate ejectment proceedings were noted, pursued by the ex-managing director despite lacking authority post-liquidation. The court directed the official liquidator to hand over possession to the landlord promptly, dismissing all applications aimed at retaining possession and delaying the landlord's rights. The court emphasized the need for compliance with possession delivery within a specified timeframe.

---