Y V Vishweshwar Rao (Advocate ) 18 April 2009
A -took loan of Rs;- 25,000/- from B , for a period of 4- years - A did not pay the due amount to B , but in 5th year A agreed to pay the due amount and executed and delivered a note/agreement to pay the 5 years old Debt .
There are no other documents in between the parties . !
Please express your views if a suit is field , is it with in limitation !
thanks in advacne
Chhaya Soni (Self Employed) 18 April 2009
If the Party B acknowledge the debt in writing, a fresh period starts from the date, u can file recovery suit on that basis.
Chhaya Soni (Self Employed) 18 April 2009
sorry its Party A not B
laknareddy yanala (legal consultant) 18 April 2009
You can file the recoery suit . It is perfectly within time as fresh acknoweldgement for the earlier loan is there. From that day onwards, you can prefar the suit within three years.
Y V Vishweshwar Rao (Advocate ) 23 April 2009
Thak to all of you friends !
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