limitation

prasadrao (Querist) 28 May 2010 This query is : Resolved
1. please letme know the limitation to file suit for damamges against director of the company, who misappropriated company funds.
2. already we have filed PCR against him as he resigned from the company in the year 2007.
3. whether suit for damages can file from the knpwledge of fraud or any particular period of limitation is their.

please answer above points and oblige.

With regards

Prasad Rao.

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Raj Kumar Makkad (Expert) 28 May 2010
3 years from the date of knowledge of fraud.

Surrender K Singal (Expert) 29 May 2010
Don not wait till the 12th hour of limitation (3 years from knowledge) which the plaintiff would have to prove as to the source of knowledge / evidence thereof

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