National Aluminium Company Limited vs Sgn Telecoms Limited on 27 July, 2010
Another argument raised by learned counsel for the petitioner
that the petition for winding up is barred by limitation, again does not merit
any consideration. Though the learned Single Judge of Calcutta High Court
has held that winding up petition in 2001 cannot be filed in respect of a debt
which has crystallized in a decree of 1997 but the said judgment referred to
by learned counsel for the respondent company has been overruled by a
larger Bench of Calcutta High Court in case reported as Bangur
Foundation Limited vs. Esjey Corporation, 2004(1) CHN 621. It was
C.P. No. 62 of 2009 [12]
held therein that in a case of debt based upon a money decree, it is not
Article 137 of the Limitation Act, 1963 which would be applicable but it
would be Article 136 of the Limitation Act i.e., period of 12 years. It was
held to the following effect: -