:1: IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 106 OF 2008 COMPANY PETITION NO. 106 OF 2008 COMPANY PETITION NO. 106 OF 2008 India Cements Capital Ltd. ..Petitioners versus M/s. Madhav Structural Engineering Ltd. ..Respondents Mr. A. S. Khan for the Petitioners. Mr. U. S. Samudrala for the Respondents. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. DATE : 14TH AUGUST, 2008. DATE : 14TH AUGUST, 2008. DATE : 14TH AUGUST, 2008. P.C. P.C. P.C. . Heard. 2. The petitioners have filed this petition for winding up under Sections 433 and 434 of the Companies Act, 1956. According to the petitioners a sum of Rs.55,26,907/- is due to them by the respondents company under Hire Purchase Agreement. 3. The contention of the respondents that the claim is time barred, however appears to be correct. From the Second Schedule to the Agreement at Exhibit ’A’ the last payment due was on 11.8.2005 and this :2: Company Petition has been filed on 4.1.2008. 4. Learned counsel for the petitioners however relies on a letter dated 2.4.2007 in which the respondents company accepted its liability to pay the value of dishonoured cheques. According to the petitioners this amounts to acceptance in respect of all the amounts due under the agreement. This submission is not correct. The acknowledgment is only in respect of value of dishonoured cheques to the extent of Rs.4,12,512/-. Admittedly, this amount has also been paid by the respondents company by way of settlement in dispute under the Negotiable Instruments Act. 5. The petitioners claim is barred by limitation, hence Petition is dismissed. (S. A. BOBDE, J.) (S. A. BOBDE, J.) (S. A. BOBDE, J.)