Limitation period for Mortigage Loan recovery

Praveen (Querist) 03 May 2017 This query is : Resolved
Sir, i had take ruralhome loan in icici Bank in 14-2-2008 and the property Has beenmortgaged.last instalment made by me was on 6-1-2 009.Is this Loan out of limitation.should l pay the loan Or Not. Do the Bank has right to Recover.date of loan sanction and Date of last instalment Has been mentioned in Cibil Report.

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ADV-JEEVAN PATIL, MUMBAI (Expert) 04 May 2017
Loan has to be paid and does not limit limitation period else bank will not release the mortgage

Guest (Expert) 04 May 2017
Bad thought leading to worse results in a secured loan case.

Guest (Expert) 04 May 2017
Refer Sec 69 of Transfer of Property Act 1882.First Apply for Ec to confirm whether the Property is still in your Name.Consult a Local Good Advocate and Proceed for Precautions.

Guest (Expert) 04 May 2017
A Precise Advise by Senior Expert/Advocate Mr.P.S.Dhingra

Rajendra K Goyal (Expert) 04 May 2017
Pay the loan, your property is mortgaged, Bank can recover.

rajeev sharma (Expert) 04 May 2017
what a daring person admitting default itn making repayment of loan and asking experts to find a way of not repaying loan.Go straight to bank and pay overdue amount your loan is still within limitation period

Guest (Expert) 04 May 2017
Dear Rajeev Sharma,

Apparently, the query seems to be of academical nature posted by a student to find out answer on law of limitations, does not seem to be real one.

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