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CS Pooja (Company Secretary)     31 October 2009

CPC Case law query 2

A borrowed a sum of money from B with a promise to return on 1st Jan, 2000.

On 1st Jan, 2000, A paid the interest to B and requested to give him one more year for repayment.

A has been making a similar request to B every year.

Can B file the suit in 2008??

Is payment of interest every year, an acknowledgement of the claim??



 12 Replies


(Guest)

Yes payment of interest is acknowledgement of claim.  You can file the suit for recovery.

1 Like

Suchitra. S (Advocate)     31 October 2009

Pooja ji, limitation period gets revised from the date of acknowledgement. So, 'A' can file a case for recovery . S.18 of Limitation Act.

2 Like

selvambaby (lawer)     31 October 2009

The reply is in the affirmative,provided the date on which the interest  paid / received is endorsed on the instrument,the borrower is liable to be sued within THREE years from date of last such endorsement of interest.

1 Like

CS Pooja (Company Secretary)     31 October 2009

Thanks all for your valuable suggestions..

ram murti (advocate) (lawyer)     31 October 2009

yes a can file a suit for recovery of money. limitation period for filing the suit will start from the date of paying the interest.

1 Like

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     31 October 2009

definitely suit for recovery can be filed within 3 years of acknowledgement of loan and in your case, you can file the case.

1 Like

Adinath@Avinash Patil (advocate)     01 November 2009

YOU  CAN FILE CIVIL SUIT FOR RECOVERY OF AMOUNT  WITHIN THREE YEARS FROM LAST ACKNOWLEDGMENT.

1 Like

n.k.kapil (ADVOCATE)     02 November 2009

yes u can file a suit for recovery within 3 years from the last  date of  acknowledge of loan.

1 Like

K. Rajendra Prakash (Advocate)     09 November 2009

Payment of interest every year, is itself an acknowledgement of the claim. You can a file suit for recovery of loan within three years from the that date.

1 Like

K. Rajendra Prakash (Advocate)     09 November 2009

Payment of interest every year, is itself an acknowledgement of the claim. You can a file suit for recovery of loan within three years from the that date.

 

 

Payment of interest every year, is itself an acknowledgement of the claim. You can a file suit for recovery of loan within three years from the that date.

 

 

Payment of interest every year, is itself an acknowledgement of the claim. You can file a suit for recovery of loan within three years from the that date.

1 Like

saquib (Advocate)     25 November 2009

Dear Ms. Pooja,

ofcourse the answer is in affirmative.

We have to take in to consideration that cause of action for any litigation arises when one of the party renounces to fulfill its legal obligation.

So if we have to calculate the Limitation period under Limitation Act then it will be Calculated from the date of renounciation of Debtor to repay the Loan amount and not from the date of Loan as you have mentioned that the time for remitting the Loan is extended at the Request of Debtor(Then also it is in limitation).

Hence the Limitation and Cause of Action for suit starts from your demand for payment and renounciation on the part of Debtor.

Regards,

Saquib

 

2 Like

ashish (lawyer)     29 November 2009

yes u can file a suit in last years when u received last intres

 

1 Like

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