sarfaesi act and limitation act?


Can the financial Institutions enforce security interest of the barrowers whcih is hit by the Limitation Act? 

Advocate/ Asst. Manager(Legal)

Dear Sir,

             I think that Law of Limitation is a portion prima facie considerable by the judge and advocates in any proceeding in court. it has a most important feature and based on so many maxims like law help those who are vigilant and not make pillow of their rights( Legal) to Sleep.

so after issuing a notice under sec 13 SARFAESI Act, if any bank of financial institution does not go for proper relief from authority with in time then definately you have a right to get quashed the same and oppose any condonation of delay application for such delay.



Dear SKJ

I think plea of limitation should be taken at first stage otherwise you'll loose the limitation plea therefater in appeal. 




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