https://www.taxtmi.com/caselaws?id=113120 A winding up petition based on a decree or certificate was treated as founded on a judgment debt, so residuary limitation under Article 137 ran from the accrual of the right to apply on that judgment debt and the petition was not time-barred. A judgment creditor was not required to first have execution of the decree returned unsatisfied, because the notice requirement and the judgment-creditor route under section 434 were treated as distinct and disjunctive. Section 34 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 did not bar winding up, as liquidation is a special statutory remedy for inability to pay debts rather than a parallel recovery proceeding. en-us Fri, 30 Jul 2010 00:00:00 +0530 Tue, 30 Sep 2014 08:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113120 A winding up petition based on a decree or certificate was treated as founded on a judgment debt, so residuary limitation under Article 137 ran from the accrual of the right to apply on that judgment debt and the petition was not time-barred. A judgment creditor was not required to first have execution of the decree returned unsatisfied, because the notice requirement and the judgment-creditor route under section 434 were treated as distinct and disjunctive. Section 34 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 did not bar winding up, as liquidation is a special statutory remedy for inability to pay debts rather than a parallel recovery proceeding. Case-Laws Companies Law Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113120