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2018 (4) TMI 1249 - HC - Companies LawWinding up petition - unable to pay the debt - limitation period - Held that:- We cannot dismiss the stand taken by the company that petitioner has not even made out a prima facie case that there is a debt. So far as the issue of limitation is concerned, in the reminder letter dated 4th February 2015, copy whereof is at Exh.'D' to the petition, it is stated that petitioner had raised Thirty bills between 31st January 2011 to 29th September 2012 but the statement of outstanding annexed is only of 27 invoices. There have been three payments made by the company. Going in the reverse order, the payment made on 3rd December 2015 for ₹ 3,00,000/, according to company, is towards the last invoice dated 29th September 2012 which was for ₹ 3,30,000/and the payment made on 19th December 2015 for ₹ 1,65,000/was towards the 26th invoice mentioned in the list dated 19th July 2012 for ₹ 1,65,000/. The amount paid on 16th December 2014 of ₹ 2,56,779/if accepted as an adhoc payment, still some of the invoices raised will be barred by limitation. If one considers the statement of outstanding filed by petitioner, invoice at Sr.No.1 was due on 1st April 2011 and the invoice at Sr.No. 11 was due on 13th December 2011 and these payments have been made beyond the three years period. Therefore, we cannot dismiss the stand of respondent as moonshine since claims under the invoices may be barred by limitation and cannot conclude that there is a debt and company is unable to discharge its debt. - Petition dismissed.
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