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recovery suit

(Querist) 07 April 2009 This query is : Resolved 
After sending a proper legal notice, when can one file a suit for recovery of their money?
Or is there a better remedy?
M. PIRAVI PERUMAL (Expert) 07 April 2009
You can file any money suit at any point of time within 3 years period.
adv. rajeev ( rajoo ) (Expert) 07 April 2009
to file a suit for recovery of money limitation is 3 years. After issuing a notice cause of action arises from the date of receipt of notice, within 3 years from the date of issuance or receipt notice u can file a suit.
sanjeev murthy desai (Expert) 07 April 2009
Rightely sugested by Mr. Piravi and Mr. Rajeev

Hiralal Das (Expert) 07 April 2009
I do agree with views and/or valuable opinions of our ld. members/friends. Thanks all of you.
Y V Vishweshwar Rao (Expert) 07 April 2009
I am of the view that Money suits are of deferent natures ;-

1 amount payable on demand - three years form the date of advance

2 Money payable in installments ;- from the date of default of installments three years and it is to be noted that on default of one installment all the installment becomes due on the next due date

3 Advance secured by mortgage - 12 years

4 There are deferred repayments under some advances -

5 It is necessary to consider the nature of loan and it conditions for repayment .

I defer with the views that suit can be filed with in three years form the date of Notice
ESTHERPRIYA (Expert) 07 April 2009
Yes i agree with my ld friend Y V Vishweshwar Rao's view. The legal notice is sent to avoid litigation at the pre-litigation stage. Moreover in case some parties get compromised without going to court. Hence the cause of action arises when and where the instrument, basis for the money suit is signed. Thus according to your query, you have intimated that within such and such date if you fail to adhere to the demand raised by you in the notice, you will file a suit. After such time, you can file a suit but remember that you demand is within the ambit of Limitation Act according to the instrument in your hand.
B.B.R.Goud. (Expert) 07 April 2009
i do agree with Mr Y v Vishweswar Rao
Srinivas.B.S.S.T (Expert) 07 April 2009
Detailed reply by Sri. Y V Vishweshwar Rao. But it must be observed that the query itself is not clear.
Ashey (Expert) 08 April 2009
i do agree with Mr Y v Vishweswar Rao
yes, limitation period is three years.
Sachin Bhatia (Expert) 06 October 2009
After sending a proper legal notice, you can file a suit for recovery within 3 years time.

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