law of limitation wrt loan

-A gives B loan via NEFT on 01.01.2016. but without loan agreement. -A and B enter into loan agreement for above transaction on and dated 01.05.2019. -The law of limitation w.r.t. loan is 3 years but is it from transaction date i.e.01.01.2016 or the loan agreement date i.e.01.05.2019?

continuous cause of action

Please mention Place For info Feel Free To call anytime Advocate Alok Mahur Ch-150 Civil Court Ghaziabad M-7503885968 Email Id :
Retired Manager

What was written in the loan agreement Dated 01 05 2016 is very relevant. Whether the loan agreement mentions the date of taking loan as 01 01 2016? If so the limitation is from 01 01 2016.

Retired employee.

The loan agreement must have  also stated the loan disbursed and then this amounts to an acknowledgment of a debt, and the limitation period stands extended to three years from date of agreement in my opinion.

Total likes : 2 times




Your are not logged in . Please login to post replies

Click here to Login / Register  


  Search Forum


  LAWyersclubindia Menu

Indian Evidence Act     |    x