Amended and updated notes on section 358 of Companies Act 2013. Detail discussion on provisions and rules related to exclusion of certain time in computing period of limitation.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 358 of CA 2013 provides for exclusion of certain time in computing period of limitation.
Recently, we have discussed in detail section 357 (Commencement of winding up by Tribunal) of CA 2013. Today, we learn the provisions of section 358 of the Companies Act 2013.
The provisions of section 358 are effective from 15th December, 2016. You may refer Notification No. S.O. 3677(E) issued dated 7-12-2016. In this article, you will learn detail of the provisions of section 358 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XX |
| Chapter Name | Winding Up |
| Section No. | 358 |
| Section Name | Exclusion of certain time in computing period of limitation |
| Monthly Updated Edition | Company Law PDF |
Section 358 of Companies Act 2013: Exclusion of certain time in computing period of limitation
Section 358 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
Notwithstanding anything in the Limitation Act, 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.