Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The HC held that section 458A prescribes a clear, unambiguous four-year limitation (three years plus one) for recovery actions following a winding-up order, commencing from the date of the winding-up order and excluding the period between commencement of winding-up proceedings and the winding-up order. Consequently, the Single Judge's conclusion that limitation commences from filing of the statement of affairs was set aside. Because the winding-up order merged with the appellate order dated 06.03.2020, limitation for continuation of proceedings began from that date. The application filed by the Official Liquidator on 13.09.2020 fell within the statutory period under section 458A. Appeal dismissed.
The HC held that section 458A prescribes a clear, unambiguous four-year limitation (three years plus one) for recovery actions following a winding-up order, commencing from the date of the winding-up order and excluding the period between commencement of winding-up proceedings and the winding-up order. Consequently, the Single Judge's conclusion that limitation commences from filing of the statement of affairs was set aside. Because the winding-up order merged with the appellate order dated 06.03.2020, limitation for continuation of proceedings began from that date. The application filed by the Official Liquidator on 13.09.2020 fell within the statutory period under section 458A. Appeal dismissed.
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