NATIONAL CREDIT BANK LTD Vs. ELIZABETH PEREIRA

JUDGEMENT

(1.) The Court Liquidator representing the National Credit Bank Limited (in liquidation) is the appellant before us. The question involved in the appeal is a question of limitation.

(2.) The claim which has been held to be barred by limitation is based on a promissory note executed on 28th June 1949. It is common ground that as a result of the combined effect of the Indian Limitation Act, 1908, and the Part B States (Laws) Act, 1951, the claim would be alive up to 1st April 1953.

(3.) The petition for the winding up of the bank was filed on 4th August 1953. The High Court ordered the winding up on 19th October 1953.