Legal Question in Business Law in India

Re: Limitation in winding-up petition

Yes, the provisions of the Limitation Act shall also govern the debt owed by the company against whom the winding up is contempleted. In other words, if the debt is barred by limitation, a winding up petition can not be filed.

Re: Limitation in winding-up petition

What precisely do you intend to attain? I need better info to answer that. If you seek to wind up a company for non-payment of a debt, the debt should be legally enforcible. If the objective is anything else, (like inability to carry on a legal business, etc) there is no period of limitation for winding up the Company.

Re: Limitation in winding-up petition

Kindly inform the ground for filing winding up petition.

Re: Limitation in winding-up petition

Limitation in winding up petition would depend upon the reason one wants to go against the company. If u r one of the creditor and wants to file for winding up then the debt must be legally enforceable for which the limitation is three years unless further extended by some unqualified acknowledgement by the company. In other cases there is no limitation provided.