Akula Ranjith 29 April 2024

Recovery of money after expiry date

I have given a 1000000 Rs to the person X on 2008.
I have a document of bond paper regarding this
now,how can I recover the money from the X.after 16 years of time.
Is there any legal procedure to recover the money.

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Quick Summary

This discussion explores the possibility of recovering a significant loan after 16 years. While a bond paper exists as proof, the key issue is the statute of limitations. If no interest has been paid and the loan hasn't been acknowledged or renewed within the last three years, the debt may be considered 'barred by limitation', making recovery through legal channels unlikely.

2 Replies

T. Kalaiselvan, Advocate (Advocate) 29 April 2024

If he had neither paid any ineterest over the borrowed sum anytime within the last three years niether he had renewed the loan nor acknolwedged the loan then the loan is barred by limitation.

Yo may not be able to recover the loan amount if it is barred by limitation