Section 358: Exclusion of certain time in computing period of limitation
This section is for excluding a certain time period when calculating the time limit for lawsuits or applications related to a company being wound up.
The section, clause by clause
What the section says
In plain terms
Notwithstanding anything in the Limitation Act, 1963 (36 of 1963), or in any other law for the time being in force, in computing the period of limitation specified for any suit or application in the name and on behalf of a company which is being wound up by the Tribunal, the period from the date of commencement of the winding up of the company to a period of one year immediately following the date of the winding up order shall be excluded.
PART IV.—Official Liquidators
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Subs.by Act 29 of 2020, s. 51, for sub-section (2) (w.e.f. 21-12-2020).
- 2. Subs. by Act 31 of 2016, s. 255 and the Eleventh Schedule, for section 357 (w.e.f. 15-11-2016).
Search the whole Act, or ask it a question, in the interactive browser.
Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.