MAHARASHTRA STATE FIN.CORPN. vs ASHOK K. AGARWAL

The Supreme Court held that the application filed by the Maharashtra State Financial Corporation under Sections 31 and 32 of the State Financial Corporation Act, 1951 was barred by limitation as per Article 137 of the Limitation Act, which applies when no specific period is prescribed. The Court found that the lower courts correctly interpreted the limitation period, rejecting the Corporation's argument that Article 136, which allows for a twelve-year period for execution of decrees, should apply. Consequently, the appeal was dismissed, affirming the dismissal of the application as time-barred.