https://www.taxtmi.com/caselaws?id=101207 For winding-up on the ground of inability to pay debts, the debt relied on must be due and legally recoverable when the court considers the petition. A claim that becomes time-barred during the pendency of proceedings cannot support deemed inability to pay debts, because a winding-up petition is not a suit for recovery and the doctrines of relation back, exclusion of time under the Limitation Act, and section 458A of the Companies Act do not apply in that context. A barred debt therefore provides no legitimate basis for invoking the company court's special jurisdiction. en-us Thu, 16 May 1985 00:00:00 +0530 Wed, 08 Feb 2012 18:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101207 For winding-up on the ground of inability to pay debts, the debt relied on must be due and legally recoverable when the court considers the petition. A claim that becomes time-barred during the pendency of proceedings cannot support deemed inability to pay debts, because a winding-up petition is not a suit for recovery and the doctrines of relation back, exclusion of time under the Limitation Act, and section 458A of the Companies Act do not apply in that context. A barred debt therefore provides no legitimate basis for invoking the company court's special jurisdiction. Case-Laws Companies Law Thu, 16 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101207