Section-255: Exclusion of Certain Time in Computing Period of Limitation.

Exclusion of Certain Time in Computing Period of Limitation.

255. 1[Omitted]

Amendment

1. (a)  Omitted by Insolvency and Bankruptcy Code, 2016., Dated 15th November, 2016. –

    [255. Notwithstanding anything contained 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 for which an application has been made to the Tribunal under sub-section (1) of section 253, for a determination to be declared as a sick company or at any stage thereafter, the period during which the stay order as provided under sub-section (3) of section 253, was applicable shall be excluded.]

    (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016 enforcing the related sections of Insolvency and Bankruptcy Code, 2016