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Rajeshmohan (PROPRIETOR)     17 June 2017

Limitation period for filing suit for recovery of money

Sir,  There was an MOA between myself and other person on 21.5.2014, who borrowed money in 2009 and mutually arrived the principal and interest as on 21.5.2014 as XX Crores. He has deposited original title deeds of his property.   In the MOA he  agreed to settle by 31-12-2014.

On 25.12.2014, by acknowledging this debt, a further sum he borrowed from me (XX lakhs)  by executing a letter and pro-note by giving a specific assurance that he can settle the entire dues before February, 2015.  

But he failed to settle the amount before feb.2015,  Therefore, on 15.3.2015, he referred the MOA and further payment xx Lakhs borrowed on 25.12.2014 and  issued a letter agreeing to  pay interest @ 1.5% per month on monthly rests till realization and issued 2 cheques for xx Crores.   On 15-4-2015, he transferred payment (XXX Lakhs) by RTGS  to my account (Note:  No written communication why and on what account he transferred this amount by RTGS to my account).  However, other than one money transaction, we have no other transactions between us. He confirmed this payment in his latest official mail on 3/6/2017. 

He is  influenced and known many political, police and legal authorities.  Now he is dragging and not settling the money.  How to proceed for recovery of the money legally.  Upto what date, I have the limitation period.  I am in Chennai.  Is there any person who can challenge and recover the money through the court of law.  He has done many criminal and fradulent acts in this regard. (1) by alienating the properties given as security for the above money when the original title deeds are in my custody (2) issued cheques for xx crores from his account but the account was already closed prior to issue date.  Now i found his intention is to drag or cheat me. We must file for  criminal proceedings besides Civil money suit. I need a challenging advocate in Chennai.

Please advice me to whom I shall approach.  SHALL I SEND A NOTICE PRIOR TO FILE A SUIT AND WHAT IS LAST DATE TO FILING A SUIT.



Learning

 5 Replies

Advocate Suneel Moudgil (Advocate)     17 June 2017

Dear client,

i am not sure but as the amount is in XX crores, pecuniary juridiction will be the High Court of your state, you are advised to go through the database of LCI and get one experienced lawyer for your concern.

 

Adv.Manish Kenia (Advocate)     17 June 2017

You can file within 3 years from the date of last payment

Advocate Bhartesh goyal (advocate)     17 June 2017

suit for recovery can be filed within three years from the date of last payment or letter of acknowledgement duly signed and acceptance of debt.

Rajeshmohan (PROPRIETOR)     24 June 2017

Dear Suneelji, You advised me to go through database of LCI..... I could not understand what is LCI. Please brief me.

Tushar Jha (Advisor)     29 June 2017

File Criminal Case under Section 406 & Section 420 of the IPC besides filling Summary Civil Suit. You can proceed with filing both Civil and Criminal cases simultaneously.

Period of Limitation is 3 years for filing the suit from the date of last payment.
Even in criminal case there is limitation. Refer Section 468 of the Cr.P.C.

First send him a legal notice through an Advocate.


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