The terms and conditions as stated in tge agreement have to be honoured by both the parties irrespective of whether they earn anything or not. That is torally upto the lessee to assess the situation and vacate the premises.
It has to be proved that he was in fact earning and was fudging the account books.
A private limited company has to show that it has gone bankrupt and has no assets to pay liabilities. Directors are exempt from Personal liability unless it can be shown that they committed fraud.