-A gives B loan via NEFT on 01.01.2016. but without loan agreement.
-A and B enter into loan agreement for above transaction on and dated 01.05.2019.
-The law of limitation w.r.t. loan is 3 years but is it from transaction date i.e.01.01.2016 or the loan agreement date i.e.01.05.2019?
The loan agreement must have also stated the loan disbursed and then this amounts to an acknowledgment of a debt, and the limitation period stands extended to three years from date of agreement in my opinion.