https://www.taxtmi.com/caselaws?id=96860 A claimant in winding-up proceedings who was required to prove the claim within time, obtained leave to sue on specified terms, and then failed to comply with those terms could not later revive the same claim through a fresh summons in liquidation proceedings under Section 171 of the Indian Companies Act. Once the refusal to extend time further had attained finality, the claimant was bound by that order and could not bypass it by seeking inquiry and adjudication under a different procedure. A party that elected to proceed by suit and failed to satisfy the court-imposed conditions could not resile from that election after the claim had effectively been dismissed for non-compliance. The application was held not maintainable and was dismissed. en-us Mon, 21 Apr 1941 00:00:00 +0530 Wed, 11 Jan 2012 16:38:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96860 A claimant in winding-up proceedings who was required to prove the claim within time, obtained leave to sue on specified terms, and then failed to comply with those terms could not later revive the same claim through a fresh summons in liquidation proceedings under Section 171 of the Indian Companies Act. Once the refusal to extend time further had attained finality, the claimant was bound by that order and could not bypass it by seeking inquiry and adjudication under a different procedure. A party that elected to proceed by suit and failed to satisfy the court-imposed conditions could not resile from that election after the claim had effectively been dismissed for non-compliance. The application was held not maintainable and was dismissed. Case-Laws Companies Law Mon, 21 Apr 1941 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96860