2025 (10) TMI 625

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....: HON'BLE MR. JUSTICE D K SINGH) The present OSA has been filed impugning the order dated 12.06.2024 passed by learned Company Judge in Company Application No.280/2023 in Company Petition No.57/2012. The United Breweries (Holdings) Ltd., (UBHL) came to be wound up by order dated 07.02.2017. The petition for winding up was filed in the year 2012. 2. Against the said winding up order, Company Appeal OSA 5/2017 was filed before the Division Bench of this court. An interim order dated 25.04.2017 was passed directing the Official Liquidator not to precipitate the matter during the pendency of the appeal. The Official Liquidator was however authorized to collect the rents, etc. from the tenants of UBHL. 3. Finally the judgment in app....

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.... winding up order is stayed? If so, from when would the limitation period have to be calculated? iii) Is the Official Liquidator expected to conduct an investigation, ascertain the creditors, and initiate action against such creditors on his own? iv) In the present matter, can the application filed by the Official Liquidator under Section 446(2) of the Act be said to be barred by law of limitation and dismissed in limine at this stage? v) What order? 6. In answer to question no.1, the learned Company Judge has held that the limitation of four years as provided u/s. 458A for recovery of dues of the company under liquidation would start from the date of filing of the statement of affairs of the company by its Ex-....

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....dered the submissions. Sec. 458A reads as under: "458A. EXCLUSION OF CERTAIN TIME IN COMPUTING PERIODS OF LIMITATION: Notwithstanding anything in the Indian Limitation Act, 1908 (9 of 1908) or in any other law for the time being in force, in computing the period of limitation prescribed for any suit or application in the name and on behalf of a company which is being wound up by the 1 [Tribunal], 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 (both inclusive) and a period of one year immediately following the date of the winding up order shall be excluded". 9. The language employed in the section is explicit. There is nothing in the language em....

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....al came to be dismissed only on 06.03.2020. It is no longer res integra that the appeal is in continuation of the original proceedings of the winding up. If the appeal is in continuation of the original proceedings, the limitation of four years would begin from the date of final judgment/order passed in the appeal which is dated as 06.03.2020. 12. Learned Sr. Counsel for the appellant however submits that there was no stay granted in the appeal as to the Official Liquidator not to proceed for recovery of dues of the company under winding up. He therefore submits that the pendency of the appeal or the final order in the appeal would not be the starting point for extending the limitation of four years from the date of order of winding up. ....