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Limitation Period Query For Loan Recovery
11-Mar-2023 (In Civil Law)
What is the limitation period under Delhi state coop act, 2003 ,to initiate arbitration matter for recovery of loan issued. Loan was issued in 2008 and there was 50 monthly installments agreed. Some installments were paid till April 2009 .
the limitation to file a suit for recovery of money is only 3 years from the date of event which occurs in your case as per given facts law is not in your favour because almost 10 years pastbut there is a alternative procedure to recovery of money is available in your case for that purpose we have to go the terms and condition whatever you have signed
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Adv. Akhil Verma
Delhi | 400+ Answers
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