https://www.taxtmi.com/caselaws?id=103224 Section 458A of the Companies Act, 1956 was construed as a time-exclusion provision, not as creating a fresh limitation period for an official liquidator. The running limitation on the company's cause of action is merely suspended from commencement of winding up proceedings until the winding up order and for one year thereafter, after which the balance period resumes. The cause of action does not shift to the official liquidator, and section 446(2)(d) does not generate an additional period under Article 137 of the Limitation Act, 1963. On the facts, the recovery claim was time-barred. en-us Thu, 09 Jun 1994 00:00:00 +0530 Tue, 21 Feb 2012 16:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103224 Section 458A of the Companies Act, 1956 was construed as a time-exclusion provision, not as creating a fresh limitation period for an official liquidator. The running limitation on the company's cause of action is merely suspended from commencement of winding up proceedings until the winding up order and for one year thereafter, after which the balance period resumes. The cause of action does not shift to the official liquidator, and section 446(2)(d) does not generate an additional period under Article 137 of the Limitation Act, 1963. On the facts, the recovery claim was time-barred. Case-Laws Companies Law Thu, 09 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103224