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small business borrowing recovery


26-Feb-2024 (In Recovery Law)
When I had a grocery shop, I gave the groceries as over borrowing to customers. And now, after 5 years, I have to take that amount of 2 lakh, but the customer refuses to give the money. So what can I do?
Answers (1)

Answer #1
749 votes
hello you can file a case within 3 years of the limitations period, but here the limitation period is extended because of Covid-19. The period between 15 March, 2020 to 28 February, 2022 is frozen by the Hon'ble supreme court and as per law there should be a transaction within 3 years of the transaction.
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