https://www.taxtmi.com/caselaws?id=100985 A recovery claim accrues when the amount becomes due, and the prescribed limitation period is three years. Time during which a winding-up petition remains pending is excluded, and section 458A of the Companies Act, 1956 allows an additional year for filing. On the stated calculation, the limitation period expired before the petition was presented, so the proceeding was time-barred. Section 3 of the Limitation Act, 1963 requires dismissal of a proceeding instituted beyond limitation even if limitation is not specifically pleaded, making dismissal mandatory once delay is established. en-us Fri, 07 Dec 1984 00:00:00 +0530 Wed, 08 Feb 2012 12:07:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100985 A recovery claim accrues when the amount becomes due, and the prescribed limitation period is three years. Time during which a winding-up petition remains pending is excluded, and section 458A of the Companies Act, 1956 allows an additional year for filing. On the stated calculation, the limitation period expired before the petition was presented, so the proceeding was time-barred. Section 3 of the Limitation Act, 1963 requires dismissal of a proceeding instituted beyond limitation even if limitation is not specifically pleaded, making dismissal mandatory once delay is established. Case-Laws Companies Law Fri, 07 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100985