Petition dismissed due to time-barred claims, improper notice, invoice disputes. Factual issues can't be resolved in winding-up.

The court dismissed the petition as the claims were time-barred, the statutory notice was not properly served, and there were genuine disputes regarding invoices and payments. The court highlighted that disputed factual issues cannot be resolved in a winding-up petition, leading to the dismissal of the case with no costs awarded.

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Issues Involved:
1. Whether the respondent is unable to pay its debts.
2. Whether the petitioner's claim is barred by the law of limitation.
3. Whether the statutory notice was properly served on the respondent.
4. Whether there are duplicate invoices filed by the petitioner.
5. Whether the defenses raised by the respondent are bona fide.

Issue-wise Analysis:

1. Whether the respondent is unable to pay its debts:
The petitioner argued that the respondent was unable to pay its debts, citing various transactions between 2006 and 2007, and payments made by the respondent up to 13th July 2011. The petitioner issued a notice on 11th February 2012 demanding payment of Rs. 32,98,552.76, followed by a statutory notice on 1st May 2012 for Rs. 24,01,125/- with interest. The petitioner claimed that the respondent made a part payment of Rs. 50,000/- on 13th July 2011. However, the respondent contested this, stating that the payments were made between 2006 and 2008, and the last payment of Rs. 50,000/- was for a different transaction.

2. Whether the petitioner's claim is barred by the law of limitation:
The respondent raised the issue of limitation, arguing that the claims were time-barred. The petitioner claimed the last payment was made on 13th July 2011, supported by vouchers dated 11th and 12th July 2011. However, discrepancies were noted in the amounts mentioned in the notices and vouchers. The court found that if the Rs. 50,000/- entry was excluded, the claims would be barred by limitation. The court referred to the Division Bench judgment in Modern Dekor Painting Contracts Pvt. Ltd. vs. Jenson & Nicholson (India) Ltd., which held that a winding-up petition could only be entertained if the debt was within time on the date of filing. Since the claims were time-barred, the petitioner ceased to be a creditor.

3. Whether the statutory notice was properly served on the respondent:
The petitioner issued a statutory notice on 26th February 2014, which was returned unserved with the remark "Left company. Return to sender." The respondent argued that the notice was not served at their registered office, which continued to operate from the same address. The court found that the petitioner made no further efforts to serve the notice personally. The court held that the statutory notice was not properly served, rendering the winding-up petition not maintainable.

4. Whether there are duplicate invoices filed by the petitioner:
The respondent contended that several invoices were filed in duplicate, citing documents at various pages of the petition. The petitioner argued that these were for different works executed over time. The court found the petitioner's explanation unconvincing and noted the presence of duplicate invoices. This raised disputed questions of fact that could not be resolved in a winding-up petition.

5. Whether the defenses raised by the respondent are bona fide:
The court found that the defenses raised by the respondent were bona fide and not moonshine. The disputed questions of fact and the time-barred nature of the claims could not be resolved in a winding-up petition. The court concluded that the petition lacked merit and dismissed it, with no order as to costs.

Conclusion:
The petition was dismissed on the grounds that the claims were time-barred, the statutory notice was not properly served, and there were bona fide disputes regarding the invoices and payments. The court emphasized that disputed questions of fact could not be addressed in a winding-up petition.

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