Menu
keyboard_backspace

Q. Personal Loan barred by limitation

Placeholder image

Anonymous

posted 5 months ago

Q.Personal Loan barred by limitation
Dear learned Advocates, I
have a query in regards to the personal loan below:
loan Amt : rs 2,00,000.00
Date of sanctioned :21.07.2014
NPA date:30.06.2017 EMI :Rs 8600/-
Last credit to loan account: Rs6500 on 13.10.2015
1. Is this loan barred by limitation?
2. If so, can I received lok adalat summons?
3. If so, what are the necessary step that I can take. I want to settle the loan amicably but did not have cash to settle nor can I regularised it.

Please do not provide your contact details here. We share your contact details on demand from the client.

Your Registration is Incomplete. Please Complete the Registration

Sorry, Your Profile is not activated.

Sorry, You can't respond to the Question as your account has been blocked.

Response is Required

Response should be with in 4294967295 characters

~ and ` characters are not allowed

Symbols are not allowed (Excluding #)

# Symbols is required

Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 5 months ago

View All Answers

A. ) Dear Sir,
It is not time barred since last transaction took place on 13.10.2015 and it will expire on 13.10.2018. If suit was filed beyond three years it will be called as time barred.

Placeholder image

Anonymous

Replied 5 months ago

Till 13.10.2018 no suit was file and no legal notice was received as per your information it has already expired on 13.10.18. This make me confused, Sir. Can they file suit as of 31-03-2019 after 3 years 6 months? Thanks

Reply is Required

Reply should be less than 4294967295 characters.

Helpful
Helpful
Share

Suneel Moudgil

Experience: 15 Year(s)

Responded 5 months ago

View All Answers

A. ) 1. not barred by limitation.
2. yes, summons can be issued
3. join proceedings and try to get some time to refund the amount

Placeholder image

Anonymous

Replied 5 months ago

Thanks you Sir, One more query, As I am living in a different state, it is very hard for me to attend the proceedings, Can I represent myself through letter/writing in the lok adalat

Placeholder image

Anonymous

Replied 5 months ago

Sir, Can I send an email to the Lok adalat as I am not able to attend the proceedings since I am from a different state.

Placeholder image

Suneel Moudgil

Experience: 15 Year(s)

Replied 5 months ago

Yes, you can represent through counsel

Placeholder image

Suneel Moudgil

Experience: 15 Year(s)

Replied 5 months ago

you can also send email but not guaranteed will it be considered or not?
better to engage a lawyer to present your case.

Reply is Required

Reply should be less than 4294967295 characters.

Helpful
Helpful
Share

Rameshwar Dadhe

Experience: 2 Year(s)

Responded 5 months ago

View All Answers

A. ) Not clear fact

Placeholder image

Anonymous

Replied 5 months ago

Is the loan time barred?

Placeholder image

Rameshwar Dadhe

Experience: 2 Year(s)

Replied 5 months ago

U can file money recovery suit against them immediately

Reply is Required

Reply should be less than 4294967295 characters.

Helpful
Helpful
Share
Talk to a Lawyer
Post Your Matter
Request Callback
Contact Us