Limitation Act, 1963, Article 113 -- Summary suit - Limitation - Suit filed on the basis of written contract between parties - Defendant obtained loan of Rs.50 lacs from plaintiff and said arrangement was valid till 30.9.2007 - Cause of action arises only after 30.9.2007 - TDS certificate issued by defendants on 31.3.2008 - Held, suit filed on 25.6.2010 is within time and..........
Limitation Act, 1963, Article 19 -- Recovery of money - Suit for - Limitation - Suit relates to recovery of money payable for money lent - Loan was given on 20.01.2002 - Suit filed on 13.05.2005 - Held, period of limitation is three years commencing from the date when loan is made - Suit barred by limitation...........
Contract Act, 1872, Section 171 -- Bank loan - Suit dismissed on ground of limitation - It is only the remedy which is destroyed and not the right of the creditor for the debt - Bank has general lien over the securities which come to its hands - It may be in the form of money, negotiable instrument or any form of security or it may be goods - To apply the banker's lien, it..........
Limitation Act, 1963, Section 18 -- Acknowledgment - Suit for recovery filed by respondent firms on basis of various loan transactions - In affidavits of examination-in-chief of witness of respondent firm, witnesses specifically stated about all transactions and relevant entries relating thereto - They also stated about composite entry relating to certain amounts advanced..........
Limitation Act, 1963, Article 22,28 -- Suit for recovery of money - Plaintiff obtained shop on lease from defendant against security deposit which was to be refunded at time of vacating premises - Lease deed captioned as `rent bond' - Held, document executed, did not come into existence on account of any loan transaction - Art.28 of Limitation Act not attracted -..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Cheque issued towards loan advanced by a Co-operative Society - Cheque held to be issued towards time barred time under the general provisions of law whereas it was not so under the Co-operative Societies Act - Held, law of limitation under the Co-operative Societies Act is equally applicable to the..........
Limitation Act, 1963, Article 62 -- Loan against mortgage of property created whether as a principal liability or collateral security - Suit for enforcing mortgage can be filed within 12 years from the date when the money sued for becomes due...........
Contract Act, 1872, Section 127, Limitation Act, 1963, Article 62 -- Surety - Equitable mortgage for a loan - Can be proceeded against within 12 years u/s 62 even when the debt gets barred against the principal debtor - Liability of surety will continue unless the principal debtor is discharged from the liability...........
Consumer Protection Act, 1986, Section 2(1)(g), 15, 24A -- Appeal - Limitation - Banking service - Loan - To young unemployed youth under Prime Minister's Rozgar Yojna - First instatlment of loan for Rs. 20,000/ - paid to the respondent complainant - Second instalment of loan amounting to Rs. 27,000/ - for working capital DD issued to dealer for supply of material to the..........
Limitation Act, 1963, Section 18 -- Acknowledgement - Repayment of loan - Suit for - Limitation - Plaintiff gave loan to defendant on two occasions on 30.05.1998 and 30.11.1998 - Defendant admitted himself a sum of Rs.18,761/- was received by plaintiff on 30.11.2000 which shows acknowledgment of defendant regarding amount due towards him - Held, from this date i.e...........
