Exclusion of time required for obtaining leave, for computation of limitation period.

Where a person, against whom an order under sub-section (I) of Section 2 has been made applies for leave for institution of any proceeding, the time required by the High Court or the Judge, as the case may be, for deciding the application shall be excluded in computing the period of limitation (if any) prescribed under any law for the time being in force for instituting such proceedings. Explanation.-In excluding such time, the date on which the application for leave was made to the proper authority and the date on which such authority made its order on the application shall both be counted.