Appletree Chits India (P) Ltd (In Liqn.) Vs. Smt. Miny Zachariah (High Court of Kerala)
Summary: The High Court of Kerala considered a preliminary objection on limitation in Company Claim No.1384 of 2023 filed by the Official Liquidator of M/S Appletree Chits India (P) Ltd. against Smt. Miny Zachariah. The Company Claim sought recovery of Rs.62,548/-, inclusive of interest, allegedly payable by the respondent to the company under liquidation. The claim was instituted under Section 446 read with Section 458A of the Companies Act, 1956, with the claimant also seeking future interest at 12% per annum on the principal amount of Rs.28,750/- from 14.08.2013 and costs.
The respondent filed a counter affidavit dated 23.04.2026 denying the liability and contending that the demand was barred by limitation. The principal controversy before the Court at this stage was therefore the date from which the limitation period applicable to the Official Liquidator’s claim was required to be computed.
The respondent’s counsel submitted that the alleged default occurred on 14.08.2013 and that, under Article 137 of the [Limitation Act, 1963](https://taxguru.in/corporate-law/section-7-ibc-limitation-date-default-acknowledgment-revival-claims.html), steps ought to have been taken within three years. It was contended that the winding-up proceedings commenced on 10.02.2014 and remained on hold until the Company Court passed the winding-up order on 08.11.2019. According to the respondent, after excluding the period from 10.02.2014 to 08.11.2019 under Section 458A of the Companies Act, 1956, and taking into account the additional one-year period under that provision, the claim ought to have been presented by 12.05.2023. Since the Company Claim was presented only on 05.09.2023, it was argued to be barred by limitation. Reliance was placed on the Supreme Court judgment in Karnataka Steel and Wire Products and Ors. V. Kohinoor Rolling Shutters and Eng. Works and Ors. [(2003) 1 SCC 76].
