https://www.taxtmi.com/caselaws?id=106259 An official liquidator's application for an order-cum-decree under section 446(2) of the Companies Act, 1956 was held barred by limitation. The underlying loan claims had arisen in 1971 and 1972, and the winding-up petition was filed only in 1976, by which time more than three years had elapsed from the lending dates. The Court held that a winding-up petition cannot be founded on a debt already barred by limitation. Section 458A was unavailable because the application was filed more than one year after the winding-up order, and article 137 of the Limitation Act, 1963 applied. The request was therefore not maintainable. en-us Mon, 19 Jan 1998 00:00:00 +0530 Tue, 13 Mar 2012 14:38:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106259 An official liquidator's application for an order-cum-decree under section 446(2) of the Companies Act, 1956 was held barred by limitation. The underlying loan claims had arisen in 1971 and 1972, and the winding-up petition was filed only in 1976, by which time more than three years had elapsed from the lending dates. The Court held that a winding-up petition cannot be founded on a debt already barred by limitation. Section 458A was unavailable because the application was filed more than one year after the winding-up order, and article 137 of the Limitation Act, 1963 applied. The request was therefore not maintainable. Case-Laws Companies Law Mon, 19 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106259