OFFICIAL LIQUIDATOR OF M S SOUTHERN HERBALS LIMITED Vs. RAJAN

JUDGEMENT

(1.) THIS application is filed by the Official Liquidator under Order 6 Rule 17 CPC read with Rule 6 and 7 of Companies (Court) Rules 1959s whereunder the O.L seeks for the following reliefs:-

(2.) OBJECTIONS to the said application has been filed and it is contended that O.L is seeking to incorporate the amendment by way of adding additional prayers in C.A.No.130/2010 which are barred by limitation and therefore such amendment is impermissible.

(3.) PER contra, Sri K.S.Mahadevan, learned counsel appearing for the O.L would submit that Section 458-A is to be read along with Section 543 and he contends that Section 543(2) prescribes the period of limitation and Section 458-A prescribes the exclusion period and thus the exclusion period of one year provided under Section 458-A would also extend to an application filed by the O.L under Section 543(2). He would submit that words used in Section 458-A is with reference to the proceedings to be initiated in the name and on behalf of the company which is being wound-up and it is only on the winding-up order that would be passed which would give cause of action for the O.LO to file an application under Section 543(1) and the word application used in Section 458-A is referable to an application filed under Section 543(1) of the Act also and as such he would contend that period of one year is to be excluded for the purpose of computation of period of limitation. He would also contend that period of one year from the date of passing of the order is to be excluded as contemplated under Section 458-A for the purpose of reckoning the period of limitation of five years prescribed under Section 543(2) of the Act. In support of his submissions, he relies upon the following judgments:- 1) (2002) 112 Company Cases P.606 (KARNATAKA STEEL AND WIRE PRODUCTS AND OTHERS vs KOHINOOR ROLLING SHUTTERS AND ENGINEERING WORKS AND OTHERS) 2) (2008) 144 Company Cases P.609 (SC) (AJAY G.PODAR vs OFFICIAL LIQUIDATOR, JAIPUR SPINNING AND WEAVING MILLS)