Promisory note

Querist : Anonymous (Querist) 30 October 2022 This query is : Resolved
My father took 20k from my maternal grand father in the year 1984 by signing promisory note for the same.After a while my father repaid it but didn't took any evidence for that and my maternal grand father didn't tear out the note.My father died in 2010.Recently my maternal grand father expired.My question is did my maternal grand father's legal hire's can claim now as Promisory note still exists?

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This discussion explores the validity of a promissory note signed in 1984 for a £20,000 loan. Although the loan was repaid, the original note was not returned or destroyed. The question arises whether the maternal grandfather's legal heirs can claim the outstanding amount after the grandfather's recent passing, 38 years after the loan was issued. The consensus is that such a claim would likely be barred by the Limitation Act due to the significant delay, unless exceptional grounds for the delay can be proven.

Advocate Bhartesh goyal (Expert) 30 October 2022
No, Legal heirs of your materrnal grand father can't initiate legal proceedings to recover loan amount taken by your father
in the year 1984 , after laps of 38 years they can't claim as barred by limitation.