Time Spent in Winding Up Proceedings Cannot Be Excluded Under Section 14 of Limitation Act for Filing Recovery Suit: Supreme Court

The Supreme Court has ruled that the period spent by a party pursuing winding-up proceedings cannot automatically be excluded while calculating limitation for a later money-recovery suit under Section 14 of the Limitation Act, 1963. The Court held that a winding-up proceeding and a civil suit for recovery of money seek fundamentally different reliefs, and therefore the time spent in the former proceeding cannot be treated as time spent pursuing…