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Issues involved: Application by official liquidator u/s 446(2)(b) of Companies Act, 1956 for recovery of debt due from respondents. Question of limitation raised by respondents.
Details of the Judgment: Claim and Resistance: Official liquidator sought payment of Rs. 2,323.50 from respondents, who denied liability based on promissory note. Respondents challenged jurisdiction, contended application was time-barred. Argument on Limitation: Respondents argued application filed after prescribed period. Official liquidator contended application within time as per Act and Indian Limitation Act. Precedent and Interpretation: Referring to Faridabad Cold Storage case, Full Bench held official liquidator's claim enforceable under section 446(2)(b) of the Act. Relevant date for limitation computation is date of winding-up order. Decision: Court agreed with Full Bench, found official liquidator's claim legally enforceable from date of petition for winding up. Application filed within permissible time frame, not time-barred. Respondents ordered to pay debt, costs, and interest. Conclusion: Application allowed, respondents directed to pay specified amount to official liquidator with costs and interest.
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