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2017 (3) TMI 1826 - Tri - Companies LawMaintainability of petition - time limitation - Section 433 in Companies Act, 2013 - HELD THAT:- The basic feature of the Petition under consideration is that the relief claimed are prima-facie perpetual in nature. Such as "Prayer" to appoint an appropriate person to manage the affairs of the Company is an issue of continuing in nature. Likewise, a request is for appointment of a Chartered Accountant. Further seeking restraint order against the Respondent not to account false entries in the Account Books. All these instances referred from the Main Petition thus indicate that the issue raised is continuing in nature. A distinction is therefore visible that in a situation when no specific period for filing a Petition is prescribed in the Companies Act then the period of three years is unwarranted. The grievance being in the nature of "continuing wrong" hence the provisions of Limitation Act do not apply. The Petition under consideration cannot be thrown out of litigation at this preliminary stage. The Petitioners can also not be thrown at the very threshold. The objection of maintainability is rejected. Application dismissed without cost to be consigned on record.
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