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1972 (3) TMI 27 - SUPREME COURTWhether the facts established in this case support the plea of estoppel put forward by Hungerford? Whether there was any waiver or abandonment as pleaded by Hungerford? Held that:- Section 15(5) of the Limitation Act, 1963, can be viewed in one of the two ways, i.e., that that provision does not apply to incorporated companies at all or alternatively that the incorporated companies must be held to reside in places where they carry on their activities and thus being present in all those places. Hungerford is an investment company. It had invested large sums of monies in Turner Morrison. Its board of directors used to meet in India now and then. It was (through its representatives) attending the general meeting of the shareholders of Turner Morrison. Under these circumstances, it must be held to have been residing in this country and consequently was not absent from this country. Hence, section 15(5) cannot afford any assistance to Turner Morrison to save the bar of limitation. For the reasons mentioned above, this appeal fails and it is dismissed
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