Party A (Seller) and Party B (Purchaser) - They both were Neighbor and Friend. In 2014 Party A has sale his Residencial Plot to B. The Sales Agreement was made - The payments was made via cheque. The same is register before appropriate authority. Next days due to friendly relation Party B ask from Party A that he is need of urgent money for his Business. The money which was received by Party A for plot selling, was given to Party B for Business. Party B that given one written undertaking that the money will return back within three Years and he can pay @ 1% every month Interest to the party A. In-between Party B paid pay back some money in Cash to A. still the full O/s not paid.
Now the Question is it be consider this as property matter which is having 12 years limitation - Or consider the same file the suit on cash receipt basis which was available.
Requesting for Expert view ..
Thanks ,
Hemant.