Dear Learned Members,
I seek urgent advise, please
What is the time limit to file civil suit (money recovery)?
I’m working in Pharma Ltd Company and it has old outstanding from 2004-2007 with the parties.
Now my company asking me to send demand notice to old parties to recover the outstanding , already for some parties I sent demand notice on 01-07-10 (pervious to this demand notice sent was 01-12-2009).
My question is when is the time limit will commence,
whether (1)from the date of demand notice? or (2) from the date of last invoice? (3) from the date of last transaction?