SUMEET
20 May 2008 at 16:00
A FRIEND OF MINE HAS AVAILED A LOAN FACILITY FROM CO-OPERATIVE BANK IN MAHARASHTRA 8 YEARS BACK. HE REPAID A FEW INSTALLMENTS AND HIS BUSINESS TURNED INTO A FAILURE. THE MORTGAGED PROPERTY TO THE BANK WAS A HOUSE IN A NON-REGISTERED AREA. THE BANK BEING A CO-OPERATIVE ONE HAS ALLOTTED SHARE TO MY FRIEND AND HE ACCEPTED TO TURN THE ANNUAL DIVIDEND INTO THE LOAN ACCOUNT UNDER STANDING ORDETRS FOR THE WHOLE PERIOD.
NOW, THREE YEARS HAS ELAPSED SINCE HIS PAYMENT OF THE LAST INSTALLMENT TO THE BANK. DURING THIS PERIOD, THE LOAN WAS NOT RENEWED, EITHER ORALLY OR IN WRITTEN.
NOW, MY QUESTION IS THAT, CAN HE DENY THE REPAYMENT OF THE LOAN ON THE BASIS OF DEBT BECOMING DEBARRED UNDER THE "LAW OF LIMITATION" SINCE HE HAS NOT PAID ANY INSTALLMENT NOR ADMITTED HIS LIABILITY FOR A PERIOD OF THREE YEARS. WILL THE DIVIDEND ADJUSTMENT MAKE IT IMPOSSIBLE TO DENY REPAYMENT?
HAD SUCH ADJUSTMENT NOT BEEN THERE, WOULD IT BE POSSIBLE TO DENY REPAYMENT.
~ A FRIEND...
Agnel
20 May 2008 at 08:12
I am writing civil judge exam in Aug'08.
Kindly help me to find a coaching centre to train me for civil judge exam in Chennai
Rajaram C Iyer
19 May 2008 at 13:58
What is Letter Patent Appeal. Can anyone explain in detail.
Regards
Rajaram C Iyer
19 May 2008 at 13:57
please tell me the difference between summary suit and ordinary suit for recovery in detail. If possible with example.
Thanks
umesh jawalikar
18 May 2008 at 19:25
Hi, I am running approved school on govt land since 1990. Despite several requests govt not aloted said land to me. I approach to civil court seeking injuction on the ground of parity and need to impart ducation. The civil court directed to maintain status quo till next date. Meantime is it lawful to file Writ Petition seeking permanant protection from demolishing and vacating said land, by preferring petition to high court through representative nature by student and parents to etablish need of school in said vicinity?
Arun Bhatia
17 May 2008 at 18:41
Can the plaintiff or defendants can resile from the facts stated by them in Plaint or written statements
Arun Bhatia
17 May 2008 at 17:53
Can the Plaintiff or defendents resiled from the facts stated in the Plaint or in pleadings? Answer with latest case law support.
R. Brizmohan Singh
17 May 2008 at 14:35
Suit was filed on the basis of a pronote in which only amount was filled and signed by the promisor. Before filing the suit, the plaintiff filled up all the blank columns including that of Interest. Section 20 of the NI Act protects the promisee and permits him to fill up the blank columns. Is the blank in Rate of Interest Column is protected in the same fashion as in my opinion it is a different contract and is not so protected.Please offer your expert comments with due legal reasons. Can you quote a Supreme Court Judgement on the point?
parikshit rajvaidya
17 May 2008 at 12:31
What will b the court fee where an applicant is asking for partition,declaration and possession of agriculture land situated in M.P.
pls suggest relevent judgment on O/7 R/11 (under valueation &court fee)
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LAW OF LIMITATION - II
DEAR SIR,
A THING IN MY NARRATION IS MISSING THAT THE PROPERTY IS SOLD AS OF NOW AND A FEW BANK OFFICIALS KNOW IT WELL. FURTHER THE BANK HAS FILED A SUIT FOR THE RECOVERY OF DUE AMOUNT AND FINALLY IT WAS AGREED TO CREATE A TERM LOAN IN MY FRIEND'S NAME AND THE EARLIER LOAN WAS TREATED AS FULLY PAID. AFTER A FEW MONTHS, NO INSTALLMENT IS PAID BY HIM FOR THREE YEARS. UNDER THESE CIRCUMSTANCES IS THERE ANY VALID DEFENCE FOR HIM.
HE HAS APPROACHED TO THE BANK TWO YEARS BEFORE TO SETTLE THE LOAN AT ONCE BY PAYING IN LUMPSUM. THE BANK OFFICIALS COULD NOT PAY ANY ATTENTION TO HIM.
THANK YOU AND WAITING FOR YOUR REPLY...