Expiry of promissory note
4 years ago
Dear Sir,
My father was issued promissory note by a cooperative society taking money from him.but the period of returning was 2 years back but they are saying they dont have liquidity now. How long can we wait with that matured promissory notes before it becomes void n what can be done to keep it active of we have to wait further.
Devesh Tripathi
Responded 4 years ago
A.first of all you give a notice to them and wait for reply , after that reply you again write a second notice and in such manner you keep your cause of action alive and limitation period will be adjusted in such manner . in general , three year period is there in which you should file a case.
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