X taken home loan from Y and executed mortgage deed by depositing title deeds,which is regd. the loan is to be reapid in 13 years by 26 hly instalments. The 1st instalment commenced from 1/4/1986. X committed default from 1/4/1989 onwards. X paid an amount of Rs 25,000/- on 6.3.1990. and promissed to repay the amount within a month Y adjusted the amount towards principle and interest. X did not pay any amount. Y issued legal notices on 18/9/1997 AND FINAL NOTICE ON 1.1.1998 recalling the entire loan amount as due as per the loan agreement. X did not send any reply and Y filed recovery of money in the Month of December 2001. X contested the matter stating that the suit is barred by limitation and he denied about any payment to Y.
now the issue is whether the suit is barred by limitation as alleged by X. whether the payment made by X on 6.3.1990 will act as acknowledgement and whether will it extend the period of limitation. pl reply along with suitable citations.
sravankumar
