Harihar Nath & Ors vs State Bank Of India & Ors

The Supreme Court addressed the applicability of Article 137 of the Limitation Act, 1963 in relation to petitions under Section 446(1) of the Companies Act, 1956, concerning the leave of the Company Court to proceed with a pending suit. The Court held that the leave is necessary for proceeding against the company in winding-up proceedings, but not against other defendants. The ruling clarified that the provisions of the Limitation Act apply to such petitions, emphasizing the need for timely action in corporate insolvency matters.