Section 274 — Directions for filing statement of affairs

(1) Where a petition for winding up is filed before
the Tribunal by any person other than the company, the Tribunal shall, if satisfied that a prima facie case
for winding up of the company is made out, by an order direct the company to file its objections along with
a statement of its affairs within thirty days of the order in such form and in such manner as may be
prescribed:
Provided that the Tribunal may allow a further period of thirty days in a situation of contingency or
special circumstances:
Provided further that the Tribunal may direct the petitioner to deposit such security for costs as it may
consider reasonable as a precondition to issue directions to the company.
(2) A company, which fails to file the statement of affairs as referred to in sub-section (1), shall forfeit
the right to oppose the petition and such directors and officers of the company as found responsible for such
non-compliance, shall be liable for punishment under sub-section (4).
(3) The directors and other officers of the company, in respect of which an order for winding up is
passed by the Tribunal under clause ( d) of sub-section (1) of section 273, shall, within a period of thirty
days of such order, submit, at the cost of the company, the books of account of the company completed and
audited up to the date of the order, to such liquidator and in the manner specified by the Tribunal.
(4) If any director or officer of the company contravenes the provisions of this section, the directo r or
the officer of the company who is in default shall be punishable with imprisonment for a term which may
extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may
extend to five lakh rupees, or with both.
(5) The complaint may be filed in this behalf before the Special Court by Registrar, provisional