limitation for filing suit for recovery of dept

Adv Digamber Dalve (Querist) 30 October 2010 This query is : Resolved
A bank filed suit for recovery of debt u/s. 91 MCS Act 1960. What is period of limitation for such suit? Is notice necessary to such suit? whether limitation is counted from the date or receipt of notice?

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Devajyoti Barman (Expert) 30 October 2010
3 years from the date when the money fall due unless thereafter the borrower acknowledges the debt again.

DEFENSE ADVOCATE.-firmaction@g (Expert) 30 October 2010
By MCS act means Maharashtra co op socieites act the limitation is six years and further provision of condonation of delay.

Even other wise u/s101 unlimited powers to co op registrar to issue decree.

s.subramanian (Expert) 30 October 2010
I agree with Mr.Shashi.

Devajyoti Barman (Expert) 30 October 2010
If that is so then I stand corrected.

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