Section 255 of the Companies Act, 2013: Exclusion of certain time in computing period of limitation

The Companies Act, 2013

Chapter-XIX Revival and Rehabilitation of Sick Companies 

Section 255: Exclusion of certain time in computing period of limitation.

255. 1[Omitted]


1. Omitted by the Eleventh Schedule (Sec. 255) to the Insolvency and Bankruptcy Code, 2016, w.e.f. 15.11.2016[S.O. 3453(E) dated 15.11.2016]. Prior to omission, the section stood as under:

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.”

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