- (1.) This is an application under sub-section (1) of section 144 of the Code of Civil Procedure by the official liquidator of the New Hindustan Bank Ltd. (in liquidation).
(2.) The bank went into voluntary liquidation some time in the year 1946 and order for supervision was made on the 18th of March, 1949. Jaswant Rai, the respondent to this application, held a decree for Rs. 495 with costs against the bank in Civil Suit No. 136 of 1949. The decree was made on the 24th of Aug., 1949. In Nov. of the same year Jaswant Rai sued out execution for the recovery of Rs. 544-11-0 and he got attached this amount lying to the credit of the bank (in liquidation) with the Punjab National Bank Ltd., Chandni Chowk, Delhi. This amount was later on paid to him on his furnishing security for restitution. Then by the order of this court, dated the 9th of June, 1950, in Civil Miscellaneous No. 235/L of 1949, the attachment in question was held to be void and the liquidators were allowed to take necessary steps for the recovery of the sum of Rs. 544-11-0 from Jaswant Rai. This application for restitution was made on the 10th of Oct., 1962. It was pointed out in the application that repeated demands had been made from Jaswant Rai for restitution of the amount, but he had failed to repay it. Notice of this application was issued to Jaswant Rai who has contested it and the following issues were framed: 1. Is the petition barred by time ? 2. Is not the respondent liable to make restitution of the sum in question to the petitioner ?
(3.) As regards the first issue, Mr. H. L. Sarin, learned counsel for the respondent, has pointed out that the period of limitation for such an application is three years under article 181 of the First Schedule to the Indian Limitation Act, 1908, and the starting point of limitation is the date when the right to apply accrues. He then pointed out that the right to apply in this case accrued to the petitioner on the 9th of June, 1950, and if article 181 was applied to the case then the application would be clearly barred. In support of his contention that article 181 is the proper one for application to cases such as this, he has referred to the Full Bench decision of our court in Mela Ram Vs. Dharam Chand, (1958) AIR 1958 Punj 132 (Pun) [FB]. and it seems beyond dispute that ordinarily this would be the article of the First Schedule to the Indian Limitation Act which will be applicable to petitions for restitution.;