Ghazala Rahman (advocate) 22 February 2020

Stuck up loan

Helo Sirs.
Can a loan of Rs 100000 be demanded with in 4 years through court. No documation available of loan liablity.

Quick Summary

This discussion explores the possibility of taking legal action to recover a loan of Rs 100,000 within four years, even without formal documentation. It highlights that legal action can typically be pursued within three years of a refusal to repay or an acknowledgement of the debt. The advice suggests that oral evidence, witnesses, and supporting documents like account books can be used to prove the loan's existence in court.

2 Replies

Adv Haresh Raichura (Advocate on Record) 22 February 2020

1) within Three years from date of refusal to repay loan or within three years from date of acknowledgement of debt

2) Even if no document of is available, there can be oral evidence of loan, witnesses of loan + contemporary documents like account books etc can help