Limitation period for recovery suite

Querist : Anonymous (Querist) 04 October 2011 This query is : Resolved
From which date/point of time, limitation period starts for a case of recovery suite?

The date on which money was paid or the date on which a part of amount was refunded last time or after that when dispute was arise/noticed

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prabhakar singh (Expert) 05 October 2011
1.03 YEARS FROM THE DATE OF TRANSACTION.
OR

2.03 YEARS FROM THE DATE OF LAST PAYMENT MADE WITHIN LIMITATION OR ANY ACKNOWLEDGEMENT MADE.

PROVIDED ANY PAYMENT MADE BEYOND 03 YEARS OR ANY ACKNOWLEDGEMENT MADE BEYOND 03 YEARS WITHOUT SPECIFIC PROMISE TO PAY WILL NOT SAVE
LIMITATION

Advocate Bhartesh goyal (Expert) 05 October 2011
Yes limitation of three years starts from the date of receiving money and if part payments or interst has been received within the limitaion period then starts from when last part payment/interest has been received.