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Bank right to file for money suit after the lapse of revival letter
12-Oct-2023 (In Recovery Law)
please answer, can a bank file money suit after the lapse of revival letter, if not then is there any way, even after the lapse of revival letter the bank can file money suit to recover money from the loanee
yes, the bank has the right to file a suit for recovery in case of revival letter or in case of lapse of revival period. the limitation period to file a suit for recovery is 3 years and then bank has the right to recover the money from the loanee
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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