=1= IN IN IN THE THE THE HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION APPEAL APPEAL APPEAL NO.449 NO.449 NO.449 OF 2004 OF 2004 OF 2004 IN IN IN COMPANY COMPANY COMPANY PETITION PETITION PETITION NO.342 OF 2003 NO.342 OF 2003 NO.342 OF 2003 M/s Pulsar International Ltd. ...Appellants v/s Prime Investrade Finance Services Ltd. ...Respondents Mr V.M. Acharya i/b M/s Mayur Narendra and Co. for Appellants. Mr Haresh Mansukhani for Respondents. CORAM CORAM CORAM : D.K. DESHMUKH AND A.A. SAYED JJ. : D.K. DESHMUKH AND A.A. SAYED JJ. : D.K. DESHMUKH AND A.A. SAYED JJ. DATE DATE DATE : 20TH JANUARY 2009 20TH JANUARY 2009 20TH JANUARY 2009 =2= P.C. :- 1. By this appeal, the appellants challenge the order passed by the learned Single Judge of this Court in company petition No.342 of 2003. The petitioners have filed the company petition seeking an order of winding up of the respondent - Company because of its failure to pay the debts. The learned Single Judge held that the claim of the petitioner - Company appears to be barred by the law of limitation. The learned Single Judge has passed a detailed order and recorded a finding that it cannot be said that the respondent - Company is not in a position to pay its debts. Apart from the merits of the matter, it is common ground that no civil suit has been filed by the petitioners to recover the amount which according to them was due from the respondent - Company. The Division Bench of this Court by order dated 13th September 2007 in appeal No.1095 of 2001, to which one of us (D.K. Deshmukh J.) is a party, has held that if no civil suit is filed for recovery of debt, then the Court cannot entertain the petition and direct admission of the petition because of the debt. In this view of the matter therefore, as the debt is clearly time barred, no useful purpose will be served by allowing the appeal. Appeal is therefore dismissed with =3= no order as to costs. . Parties to act on the copy of this order duly authenticated by the Associate / Private Secretary of the Court. . Certified copy is expedited. ( D.K. DESHMUKH J.) ( A.A. SAYED J.)