limitation act

Querist : Anonymous (Querist) 24 August 2010 This query is : Resolved
my father was having a case with a bank over default of home loan... after the death of my father & the garentor
the bank took possesion of the property and they filed a subsitution application in court to subsitute the name of myself , my brother and my sister.( mother has already passed and we have not inherited any thing from our parents).
the bank has filed subsitution application one year & 5 months after my father died.
i want to know if this is debarred under limitation act or the bank has any gound on which it can take this thing further

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adv. rajeev ( rajoo ) (Expert) 25 August 2010
Whether bank has filed delay condone application? When and contents of affidavit of such an application is necessary to go thru.,
Send the detials.

s.subramanian (Expert) 25 August 2010
The delay will be condoned and you will be impleaded.

James Arun (Expert) 25 August 2010
The date starts from the date of intimation or knowledge about your father's death, and not from the actual date of your father's death. Such delays are procedural, and not a great hindrance for the bank to overcome. You will be substituted as a borrower. You can negotiate with the bank and close the matter by paying the dues, either from your own resources or from the sale of the asset in question. You can give your consent to the bank (if required) for the same, and make things easy for a quick settlement.

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