https://www.taxtmi.com/caselaws?id=99822 A claim lodged in winding-up proceedings under section 446(2) of the Companies Act, 1956 must be a legally enforceable claim on the relevant date. Here, the claim arose from a promissory note executed in 1970, but it was brought only after the ordinary three-year limitation period had expired. The sole reliance on a last payment was insufficient because section 19 of the Limitation Act applies only where part payment is acknowledged in writing and signed by the payer. As no such acknowledgment was pleaded or proved, and no other saving provision applied, the claim was time-barred and not maintainable. en-us Thu, 21 Aug 1980 00:00:00 +0530 Mon, 30 Jan 2012 12:21:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99822 A claim lodged in winding-up proceedings under section 446(2) of the Companies Act, 1956 must be a legally enforceable claim on the relevant date. Here, the claim arose from a promissory note executed in 1970, but it was brought only after the ordinary three-year limitation period had expired. The sole reliance on a last payment was insufficient because section 19 of the Limitation Act applies only where part payment is acknowledged in writing and signed by the payer. As no such acknowledgment was pleaded or proved, and no other saving provision applied, the claim was time-barred and not maintainable. Case-Laws Companies Law Thu, 21 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99822