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Issues Involved:
1. Winding up of the company (CP No. 64/1978) 2. Scheme of arrangement for revival of the company (CP No. 31/1993) 3. Eviction of the company from rented premises (Eviction Petition E- No. 240/1986) Issue-wise Detailed Analysis: 1. Winding up of the company (CP No. 64/1978) The winding-up petition was filed by a creditor due to the company's inability to pay a debt of Rs. 62,380.65 for arrears of rent. The court passed a winding-up order on 3rd August 1979, stating that the company was unable to pay its debts and had failed to pay the petitioning creditor despite multiple opportunities. The order allowed the company one month to pay the debt, failing which the winding-up order would take effect. The company did not pay within the stipulated period, and the winding-up order became effective. The Official Liquidator (OL) took possession of the company's registered office. However, the winding-up order was partially stayed on 28th August 1984 to allow the ex-Managing Director to seek revival of route permits and the company's activities. Despite this, the company failed to achieve these objectives, leading to the revival of the winding-up order dated 3rd August 1979. The OL was directed to take charge of the liquidation proceedings and hand over the possession of the premises to the landlord. 2. Scheme of arrangement for revival of the company (CP No. 31/1993) The scheme proposed to pay unsecured creditors in a phased manner over three years without interest, with the propounder arranging the finances. The company claimed to possess valuable assets, including route permits and office premises. However, the court found the scheme unworkable, noting that the company had no buses or route permits and that the projected funds required for rehabilitation were outdated. The scheme did not address the claims of secured creditors, and the court found it to be incomplete and lacking in feasibility. The court emphasized that it must ensure the genuineness and viability of any revival scheme and concluded that the proposed scheme was neither bona fide nor viable. Consequently, CP No. 31/1993 was dismissed. 3. Eviction of the company from rented premises (Eviction Petition E- No. 240/1986) The landlord filed an eviction petition on the ground of non-payment of rent. The company had defaulted in paying rent again after having previously received the benefit of Section 14(2) of the Delhi Rent Control Act, 1958. The court noted that the company had not paid the arrears of rent despite a demand notice and had previously been directed to pay current rent regularly. The court dismissed the company's arguments regarding the maintainability of the eviction petition, including the lack of prior leave under Section 446 of the Companies Act and the validity of the notice. The court granted ex post facto leave for the eviction proceedings and confirmed that the landlord was entitled to eviction orders. Consequently, the landlord was granted possession of the premises, and the eviction petition was allowed. Conclusion: The court dismissed the scheme of arrangement for the revival of the company due to its lack of feasibility and completeness. The winding-up order was revived, and the OL was directed to take charge of the liquidation proceedings. The landlord was granted possession of the rented premises due to the company's failure to pay rent, and the eviction petition was allowed.
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