https://www.taxtmi.com/caselaws?id=102622 Limitation for a debt-recovery claim pursued by an official liquidator depends on the nature of the company's underlying claim and the corresponding Limitation Act article. Section 446(2) of the Companies Act, 1956 does not create a fresh right of action or impose Article 137 as a universal limitation rule for liquidator applications. Section 458A operates only to exclude specified periods when computing limitation; it does not create a separate limitation period or revive a claim already time-barred when winding up began. A proceeding that is substantively a suit remains governed by the limitation provision applicable to that suit. en-us Thu, 01 Sep 1994 00:00:00 +0530 Wed, 15 Feb 2012 15:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102622 Limitation for a debt-recovery claim pursued by an official liquidator depends on the nature of the company's underlying claim and the corresponding Limitation Act article. Section 446(2) of the Companies Act, 1956 does not create a fresh right of action or impose Article 137 as a universal limitation rule for liquidator applications. Section 458A operates only to exclude specified periods when computing limitation; it does not create a separate limitation period or revive a claim already time-barred when winding up began. A proceeding that is substantively a suit remains governed by the limitation provision applicable to that suit. Case-Laws Companies Law Thu, 01 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102622