https://www.taxtmi.com/caselaws?id=99655 Limitation for an official liquidator's recovery application under section 446 turned on when the right to apply accrued, not on whether a parallel suit might later be time-barred. A voluntary winding up did not by itself attract all powers of a court-directed winding up; section 518 gave only limited recourse in specified cases. Once the winding up came under court supervision, sections 523 and 526 treated it as a winding up by the court, bringing section 446 into play. Section 458A also required exclusion of the relevant period for limitation purposes, so the objection of limitation failed and the application remained maintainable. en-us Tue, 27 Mar 1979 00:00:00 +0530 Sat, 28 Jan 2012 12:06:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99655 Limitation for an official liquidator's recovery application under section 446 turned on when the right to apply accrued, not on whether a parallel suit might later be time-barred. A voluntary winding up did not by itself attract all powers of a court-directed winding up; section 518 gave only limited recourse in specified cases. Once the winding up came under court supervision, sections 523 and 526 treated it as a winding up by the court, bringing section 446 into play. Section 458A also required exclusion of the relevant period for limitation purposes, so the objection of limitation failed and the application remained maintainable. Case-Laws Companies Law Tue, 27 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99655