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Winding Up Petition Time-Barred Beyond 3 Years Under Article 137 of Limitation Act; Independent of Recovery Suits.

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....Winding up petition - time limitation - recovery of dues - A suit for recovery based upon a cause of action that is within limitation cannot in any manner impact the separate and independent remedy of a winding up proceeding - Winding up Petition filed beyond the period of three-years mentioned in Article 137 of the Limitation Act is time-barred, and cannot therefore be proceeded with any further. - SC....

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