These appeals, directed against the Full Bench decision of the Karnataka High Court, raise a companymon question as to whether on account of Section 458A of the Companies Act, which was inserted by the Companies Amendment Act, 1960, the period of limitation for filing any suit or application gets extended, and if so, whether a claim which was barred on the date, the application for winding up was filed, stands revived on account of an order of the Court in the winding up proceedings.
In the impugned judgment, the Full Bench of the Karnataka High Court has recorded its companyclusion that the provisions companytained in Section 458A of the Companies Act does number companyfer a fresh cause of action and, therefore, if the time for the claim is already barred under the relevant provisions of the Limitation Act, then the appointment of official liquidator on an application being filed for winding up of the companypany, would number revive the barred date.
PATTANAIK, CJI.
