Limitation applies to official liquidator applications under company law, and a delayed claim was held unenforceable.

An official liquidator's application under section 446(2)(b) of the Companies Act, 1956 was held to be subject to limitation. The application, filed more than three years after the winding-up order, remained beyond the period prescribed by article 137 of the Limitation Act, 1963 even after excluding the time contemplated by section 458A of the Companies Act, 1956. The claim was therefore treated as unenforceable by lapse of time and could not be entertained.

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Issues: Whether the official liquidator's application under section 446(2)(b) of the Companies Act, 1956 was barred by limitation.

Analysis: The application was filed more than three years after the winding up order, and the claim, even after excluding the period contemplated by section 458A of the Companies Act, 1956, remained beyond the period prescribed by article 137 of the Limitation Act, 1963. The Court held that the application under the special Act was subject to limitation and that the claim had become unenforceable by lapse of time.

Conclusion: The application was time-barred and could not be entertained.

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