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ramesh (ofcer)     04 May 2022

Time barred debt

Respected All,

My name is R. Kulkarni. I took a credit card of ICICI bank in 2005. Limit 25000/-. I used that card for 3 years and make payments in installments every month. I paid more than 35000/- in three those 3 years. After 2008 i stopped paying since my financial condition was not good. Later on i shifted to a different city in search of job. I have been receiving emails from bank after every 2-3 months for payments. They are sending emails on regular basis. They show in there email that the oustanding is 4 lakhs +. 

My query is about time barred debt. Can bank file or initiate any legal proceedings after 14 years. 




 6 Replies

Shubham Bhardwaj (Advocate)     04 May 2022

Dear Mr Ramesh, 

No, the bank cannot recover this amount because it has become time barred. However there is another angle which you must know. Since you have defaulted in your payment your credit score would be bad. In such a case no bank will give you any credit facility without adequate collateral and that too if they do decide to give you loan. Consider this aspect before deciding not to pay the amount. 



Shubham Bhardwaj (Advocate)

District & Session Court, Chandigarh

Punjab & Haryana High Court, at Chandigarh


Disclaimer:- Opinion is only for guidance

ramesh (ofcer)     04 May 2022

Thank you Sir, for your guidance. 

Advocate Bhartesh goyal (advocate)     04 May 2022

Yes, bank can not legally recover due and outstanding amount as it has become time barred.

ramesh (ofcer)     04 May 2022

Thank you sir for your guidance. 

Gagandeep Goel (Advocate)     04 May 2022

You are right that the liability under the Civil law is time barred but if the remedy is used as an offence under the criminal law then in the said act is not time barred.

In economic offences applicability of time barred preposition is not acceptable and there is no limitation for the bank to file the case.

The relevant law is is economic offences in applicability of limitation act.

Contact me and have the best advice.

Regards Gagandeep Goyal


Advocate Y.K. Mehrotra (Advocate)     04 May 2022


Theoretically, this debt is time-barred. However, all limitations can be excused by the courts if they found substance in such delay, however, I do not see any such substance as a Bank is involved here that happens to know and practice such law on a regular basis.


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