https://www.taxtmi.com/caselaws?id=99495 Article 137 of the Limitation Act, 1963 applies to applications and petitions under the Companies Act, 1956 where no special limitation period is prescribed, subject to any specific limitation in the Companies Act itself. A claim already barred by limitation before commencement of winding up cannot be revived under section 446(2)(b), because that provision only enables enforcement of existing enforceable rights. For section 542, a time-barred underlying claim may still be the subject of an application if article 137 is satisfied, while section 543 is controlled by its own five-year statutory limitation. The right to apply under section 446(2)(b) accrues on the winding-up order, and under section 542 it accrues on that order and may recur with later disclosures during winding up. en-us Mon, 25 Apr 1977 00:00:00 +0530 Fri, 27 Jan 2012 15:35:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99495 Article 137 of the Limitation Act, 1963 applies to applications and petitions under the Companies Act, 1956 where no special limitation period is prescribed, subject to any specific limitation in the Companies Act itself. A claim already barred by limitation before commencement of winding up cannot be revived under section 446(2)(b), because that provision only enables enforcement of existing enforceable rights. For section 542, a time-barred underlying claim may still be the subject of an application if article 137 is satisfied, while section 543 is controlled by its own five-year statutory limitation. The right to apply under section 446(2)(b) accrues on the winding-up order, and under section 542 it accrues on that order and may recur with later disclosures during winding up. Case-Laws Companies Law Mon, 25 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99495