limitation required in filing a suit
Shubham
(Querist) 28 January 2018
This query is : Resolved
Dear experts
We have to file a case in DRT against a borrower whose loan has become NPA. The limitation of this loan has expired in 2017. The borrower made a cash payment in his account in 2016 , but the cash voucher does not bear his signature. I want to inquire if the case will be accepted in DRT?
Any humble suggestions would be appreciated.
Isaac Gabriel
(Expert) 29 January 2018
NPA is assessed based on the receipts made in the account. The banks' nwebsite has been so designed to mark the amount as NPA automatically.
Shubham
(Querist) 29 January 2018
My query is about the limitation.
The balance confirmation in the said account has expired in 2017.
But according to transaction made in account as cash was deposited in 2016, the limitation is still alive.
So I was asking can we file a case in DRT in this case?
The problem is that cash deposit voucher does not bear signatures of the borrower, but the signatures of some other person.
Kishor Mehta
(Expert) 29 January 2018
In absence of a verified signature of the borrower, it cannot be legally claimed that the borrower has deposited the amount. This might be termed a ruse to revive the application of Law of Limitations.
R.K Nanda
(Expert) 29 January 2018
you can file case in DRT as by deposit of said amount by borrower in his account the limitation has increased from date of deposited amount.
Shubham
(Querist) 29 January 2018
Sir Kishor Mehta
The amount deposited was rs. 30000/- in this account in March 2016 when account was regular.
The account became npa in march 2017. And now we are planning to file case in DRT.
Can In this situation our case in DRT will be accepted based on limitation which is live because of deposit made in this account( though the cash deposit voucher bears sign of some other person)?
Dr J C Vashista
(Expert) 30 January 2018
How you are concerned with bank NPA loan?
If you are a Banker (some senior officer) you have a brigade of lawyers employed, you will have (no option but) to rely upon the opinion and advise of Chief Legal Officer of the Bank. Otherwise, seek guidance from a local tutor for academic question.
However, with limited information provided by you it would be difficult to presume remaining and guide you properly. I agree with Mr. R K Nanda, an expert, to a limited extent but not completely since limitation can be extending if the borrower has accepted remaining amount as outstanding.
