For filing a suit

YES, you can. But it will be rejected.

You have to file suit within limitation. However show your papers to local advocate and consult with him he may find out some way.

Your own very able senior LOCAL counsel of unshakable repute and integrity specializing in civil   matters  and well versed with latest citations, LOCAL applicable rules/laws/ … and having successful track record…. and worth his/her salt…..might have already opined in negative..

Or you may consult and your counsel can opine after examining all docs, facts, inputs..

Based on what you have already posted; Your counsel may opine that you may not succeed.

Limitation only forfeit your right to approach the court, but you can coarce him to pay you back.

While I beg to differ, it can be done.
there has to be reasons for not filing the suit within the limitation period, and such reason shall be sound, acceptable, convincing, compelling. it is the discretion of the Hon'ble court thereafter. Refer to Order 7 Rule 6, CPC

Dear Sir,

A suit for recovery could be filed after the limitation period. In addition, I would like to inform you that under Order 7 rule 6 of the Code of Civil procedure there is a provision stating that there should be solid reasoning as to why there has been a delay in doing so and if the Hon'ble Court of Justice is satisfied with the same then the suit can be admitted or else it would not be taken. 

yes if there is reasonable reason of late filling

Suit is not maintainable.

No, Not Possible. Suit will be rejected under Order VII Rule 11 of Code of Civil Procedure Code,1908.

Plaint will be rejected ubder order VII Rule 11 of CPC.