https://www.taxtmi.com/caselaws?id=386353 SC held that a winding up petition filed beyond the three-year limitation period under Article 137 of the Limitation Act is time-barred. The court ruled that filing a separate suit for recovery cannot extend the limitation period for winding up proceedings, as these are independent remedies. The petition failed to establish commercial insolvency or loss of company substratum. The court emphasized that limitation periods can only be extended through specific provisions in the Limitation Act, such as acknowledgment of liability under Section 18, not through separate legal proceedings. en-us Wed, 25 Sep 2019 00:00:00 +0530 Wed, 16 Jul 2025 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386353 SC held that a winding up petition filed beyond the three-year limitation period under Article 137 of the Limitation Act is time-barred. The court ruled that filing a separate suit for recovery cannot extend the limitation period for winding up proceedings, as these are independent remedies. The petition failed to establish commercial insolvency or loss of company substratum. The court emphasized that limitation periods can only be extended through specific provisions in the Limitation Act, such as acknowledgment of liability under Section 18, not through separate legal proceedings. Case-Laws IBC Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386353