TaxTMI 
TaxTMI 
2026 (9) TMI 99
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....filed a counter affidavit dated 23.04.2026, denying the liability sought to be enforced as well as contending that the demand is barred by limitation. 2. In view of the preliminary objection as regards limitation raised by the respondent, I have heard Smt. Jasmine, the learned Standing Counsel for the Official Liquidator, as well as Sri. Arun Johny, the learned counsel for the respondent. 3. According to the learned counsel for the respondent, the alleged default occurred on 14.08.2013 and therefore, with reference to the provisions of Article 137 of the Limitation Act, 1963, steps ought to have been taken within a period of three years. With reference to the commencement of the winding up proceedings on 10.02.2014, he would state tha....
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....Chits (P) Ltd. [1998 (2) KLT 636 (F.B.)]. 5. I have considered the rival contentions as well as the connected records. 6. There is no dispute that, with reference to Article 137 of the Limitation Act, an application thereunder requires to be presented within a period of three years with reference to the date on which the "right to apply" arises. It is with reference to this, that the learned counsel for the respondent states that the period of limitation is required to be counted from the date of default, 14.08.2013, subject to exclusion prescribed under Section 458A of the Act. 7. However, the question arises as to when the Official Liquidator becomes entitled to present an application. It is not in dispute that under Section 446 ....
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....he Company in question on the date on which the application for winding up is made, the Official Liquidator is entitled to lodge the claim "within a period of four years from the date of the winding up of the company" by resorting to the provisions of Section 458A of the Act, including the three year period under Article 137 of the Limitation Act. 9. A Division Bench of this Court in Antony v. Chandni Chits Pvt. Ltd. [2016 (1) KLT 371], considered an identical situation like the one in the case at hand, also with reference to the principles laid down by the Apex Court in Karnataka Steel and Wire Products and Ors. (supra). In that case, the winding-up proceedings commenced on 16.10.1989, and the order for winding up was passed on 04.04.19....
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....e provisions under Section 458A, the Division Bench found as under: "13. Section 458A of the Act, inserted by the Companies (Amendment) Act, 1960 deals with exclusion of certain time in computing the periods of limitation. As per Section 458A of the Act, 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 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 (both inclusive) and a period of one year immediately following the date of the winding....