1944 (8) TMI 11 - HC - Companies Law

Summary

The judgment concerns the application of Article 36 of the Limitation Act in a case against directors for compensation due to a misleading prospectus. The appellant sought compensation for loss resulting from false statements in the prospectus of Cochin Furniture Company. The trial court awarded compensation, but the appeal court ruled the suit out of time under Article 36. The High Court agreed with the appeal court, dismissing the appeal.