https://www.taxtmi.com/caselaws?id=108539 The court allowed the application under section 446(2)(b) of the Companies Act, 1956 for recovery of a sum with interest, rejecting the argument of limitation raised by the first respondent. The court interpreted section 458(A) of the Companies Act in conjunction with the Indian Limitation Act, emphasizing the exclusion of time during the winding up process and one year thereafter in calculating the limitation period. Consequently, the court issued a decree in favor of the applicant against the respondents, holding them jointly and severally liable for the payment as per the judgment terms. en-us Fri, 04 Apr 2003 00:00:00 +0530 Mon, 02 Apr 2012 12:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108539 The court allowed the application under section 446(2)(b) of the Companies Act, 1956 for recovery of a sum with interest, rejecting the argument of limitation raised by the first respondent. The court interpreted section 458(A) of the Companies Act in conjunction with the Indian Limitation Act, emphasizing the exclusion of time during the winding up process and one year thereafter in calculating the limitation period. Consequently, the court issued a decree in favor of the applicant against the respondents, holding them jointly and severally liable for the payment as per the judgment terms. Case-Laws Companies Law Fri, 04 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108539