Dharma Naika VS. Rama Naika & Anr

Extract

---

Dharma Naika VS. Rama Naika & Anr

The Judgement Information System REPORTABLE

IN THE SUPREME COURT OF INDIA

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO. 4597 of 2008 (Arising out of S.L.P. (C) No.14126 OF 2006) Ajay G. Podar (s) versus Official Liquidator of J.S. & W.M. & Ors. (s)

JUDGMENT

S.H. KAPADIA, J.

Leave granted.

2. A short question which arises for determination in this civil appeal is : whether misfeasance proceedings filed by the Official Liquidator on 1.12.89 under Section 543(1) of the Companies Act stood barred by limitation provided for in Section 543(2) of the said Act.

3. The facts of this case lie in a very narrow compass.

2 4. On 2.12.83 order of winding up was passed by the High Court. Official Liquidator ("O.L.", for short) was appointed on that day. The period of five years referred to in Section 543(2) of the Companies Act, 1956 ("companies Act", for short) expired on 1.12.1988. As stated above, misfeasance proceedings were filed by the O.L. on 1.12.89. Therefore, contention has been raised by the appellant that the said pr...

See the full content of this document

---