Plaintiff has brought the suit for rendition of account and repayment of excess money. The plaintiff was rejected by the Trial Court as the case was filed after the Limitation Period as prescribed under the Act. The District Court and High Court also rejected the petition.

Union of India & Ors. v. West Coast Paper Mills Ltd. & Anr (2004) 2 SCC 747: In this case it was held that there is a contradiction between the Article 113 and Article 58 of the 1963 Act. 

Khatri Hotels Pvt. Ltd. & Anr. V. Union of India (2011) 9 SCC 126: In this case it was observed that there is a contradiction between the old Article 120 and the Article 58 of the current Act of the Limitation. In these both Articles the limitation period is provided with a slight difference.

 The SC quashed the decision of the Trial Court and the High Court and stated the Limitation Period begins to run when the right to sue first accrued and stated that the plaintiff has sent legal notice to respondent and had the filed the suit.