Delhi state coop. act limitation for arbitration query

seema sharma (Querist) 31 July 2015 This query is : Resolved
sir,
I concern for a thrift and credit coop society regd in Delhi.these are points:-
1. A member took loan in may 2007.
2. he never paid any installments.
3. He paid some amount in july 2015
Query :-
1. when cause of action arose for filing arbitratiuon .
2. from which date limitation act will apply.
3. what are the remedies for us in case of expiry of limitaion period.

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Anjali (Expert) 01 August 2015
Seema,

Please clarify:
!. what was the tenure period for loan?
2. at the time of lending the load was there any written agreement? If yes, then was there any clause for arbitration proceedings??

Regards
Adv Anjali Rajput

R.K Nanda (Expert) 02 August 2015
all depends on arbitration clause of loan agreement.

Dr J C Vashista (Expert) 02 August 2015
Has the member/borrower admitted loan + interest in June 2015?
If so, the limitation shall start from June 2o15. Otherwise, it has expired in 2010.

T. Kalaiselvan, Advocate (Expert) 09 August 2015
Since there was a repayment as late as 2015, the loan is not barred by limitation.

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