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2008 (7) TMI 574 - SC - Companies LawWhether misfeasance proceedings filed by the Official Liquidator on 1-12-1989 under section 543(1) of the Companies Act stood barred by limitation provided for in section 543(2) of the said Act? Held that:- Appeal dismissed. Section 458A of the Companies Act, dealing with computation of the period of limitation, has to be read with section 543(2) of that Act. In our view, section 458A is squarely applicable to misfeasance proceedings instituted by the O.L. in the name of the company and on behalf of the company in Liquidation. Once an application is made in the name and on behalf of the company, section 458A would become applicable.
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