1922 (1) TMI 8

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....dian Companies Act, VII of 1913, for the recovery of Rs. 965-4-8 from Hukam Chand as compensation in respect of a certain misfeasance and breach of trust committed by him in 1910 when he was Manager of the Bank. The principal plea taken on behalf of Hukam Chand was that the application was barred by limitation under Article 36 of the First Schedule of the Limitation Act, that Act being applicable ....

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....it for compensation for misfeasance. Article 120 cannot be applied where any other article is applicable. It is true that an application under Section 235 of Act VII of 1913 can be made only after a winding up order has been passed, and that to apply Article 36 in the present case leads to the anomolous result that the limitation had expired before the winding up proceedings began. But the anomaly....

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....Cavendish-Bentinck v. Fenn [1887] 12 A.C. 652 it was held by Lord Macnaghten on page 669 that Section 165 of the English Companies Act of 1862 (which corresponds to Section 235 of the Indian Act VII of 1913) created no new offence and gave no new rights, but only provided a summary and efficient remedy in respect of rights which apart from that section might have been vindicated either at law or i....