Limitation
Our Bank has filed case in DRT for recovery. Their Original Application was allowed and henceforth Demand Notice and Recovery proceedings was started. However, they are not doing anything in Recovery proceedings since last 3 years nor any action has started and they are just taking dates since last 3 years.
One of my legal consultant says that since it is over 3 years, it is now become time barred and they cannot do any recovery.
Please confirm if it is true that the recovery action can be taken only within 3 years of issue of demand notice and that now Bank cannot go ahead with recovery?
Answers (1)
Regarding your query,
Since the bank has already filed the case and same has been allowed by the court, so now the limitation act is not applicable.
So the bank can go ahead with the case and recover the amount if allowed by the court.
But, now in your situation you can file an application in the court for urgent hearing and stating that the claim of the Bank is vexatious and is the case is only filed to cause mental harassment to you.
The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.
Popular Recovery Lawyers
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.
Related Questions
- How to recover back my investment when broker invested in wrong place
- how to initiate recovery of money from the debtor
- Can a person file a recovery case from different city ?
- Gave money to colleague but he is not returning how to recover
- Procedure to take Legal Action against someone who owes money
- Recovery of money paid as security deposit for C and F agency
"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
Related Articles
- Time limit for filing a recovery case is it valid after 3 years
- Is promissory note valid if there is no date on it?
- CAN I TAKE STAY ON AUCTION FROM DRT ?
- Can loan guarantor sue the debtor for non payment
- Law on giving safe friendly loan in India
- How to file a suit for recovery of money
- How to seek father's government job after his death
- bank sent notice to settle credit card bill what to do.
- Regarding Personal Loan Default. How to do settlement?
- Conversion of education loan account as NPA without notice
- Can bank ask guarantor to repay loan if borrower is missing
- What is the court fee for declaration suit
- Client Refusing to pay money what action can I take
- Money cheating/fraud by a friendwe have proof's How to file a case ?
- How to seek father's government job after his death