SUDARSAN CHITS (INDIA) LTD. Vs. R. SAMBASIVA RAO

JUDGEMENT

(1.) IN this claim under Section 446(2) of the Companies Act, 1956, the official liquidator seeks to recover Rs. 5,062.50. The only question is whether the claim is barred by limitation.

(2.) THE facts are as under :

(3.) THE claims by the liquidator of a company have special features. His right to prefer claims and the limitation therefor is the subject -matter of both the Limitation Act and the Companies Act. Firstly, his right to prefer a claim under Section 446(2) of the Act arises only on the date of the winding up order or the date of appointment of liquidator (see K.P. Ulahannan v. Wandoor Jupitor Chits (P.) Ltd. [1989] 65 Comp Cas 178 (Ker) [FB]). If the claim is alive on this date, that is to say not beyond the period of prescribed limitation, the period of limitation starts on the date of winding up order.