1981 (2) TMI 156

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.... ordered that the winding up shall continue but subject to the supervision of the court. On July 14, 1978, the official liquidator who had, in the meanwhile, been appointed for the voluntary liquidation filed a claim against the appellant demanding Rs. 4,160. Preliminary objection was raised by the appellant that the application was barred by time. This plea has been negatived by the learned company judge and the appellant has come up in appeal. Why the plea of limitation was taken was because, according to the appellant, limitation would start from April 27, 1973, and as the period under article 137 of the Limitation Act is 3 years the application filed in 1978 would be barred by time. Now, section 522 of the Companies Act empowers the ....

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....s is section 458A of the Companies Act which lays down that in computing the period of limitation prescribed for a suit or application in the name and on behalf of the company which is being wound up by the court the period from the date of commencement of the winding up of the company to the date on which the winding-up order is made and the period of one year immediately following the date of winding-up shall be excluded. Now, April 27, 1973, being the date of special resolution in terms of section 441(1) of the Act, that would be the date of commencement of winding up and the order of supervision having been passed on November 13, 1975, the period between April 27, 1973, and January 13, 1975, and a year thereafter has to be excluded. Lim....