Limitation period

The procedure for money recovery

1. The first step in the process of money recovery will be to a send a legal notice to the defaulter.
2. If you still don't receive the payment, you can go for one of these options; Summary Suits, Negotiable Instruments Act, Criminal case or Insolvency and Bankruptcy Code.

For filing recovery suit the limitation period is three years which is going to expire in your case on 24-04-2022, so you have very short period for initiating civil suit proceeding for recovery of money.Issue notice and then file suit for recovery of money/summary suit.

Your advocate, if competent can find a way out as COVID is one such cause for extending the limitation period.  Your duty is to immediately entrust the case before summer vacation to a competent and honest advocate.

Article 19 of the Schedule of the Limitation Act, 1963 provides the limitation period of 3 years for "money payable for money lent". It states that the limitation period begins to run when the loan is made. So, your limitation period ends on 25-04-2022.

But, considering the direction of the Hon'ble Supreme Court in the suo motu case of 'IN RE: COGNIZANCE FOR EXTENSION OF LIMITATION' - "the period from 15.03.2020 till 28.02.2022 shall stand excluded for the purposes of limitation...". So, your period of limitation 'stopped' on 15.03.2020 and it has 'restarted' from 01.03.2022. That's why, in my opinion, you don't have to get concerned about the Limitation Period.

Now, moving forward, you should send a legal notice to the other party ASAP, demanding the repayment of the loan. If the other party does not pay you back, then you should file a civil suit for recovery of loan.

If you had taken Bank Cheques as a security for loan amount, then you can even proceed under Section 138, NI Act.

The facts posted do not suggest the cause of action for a civil case.

The viable option is a civil action for which the period of limitation is 3 years. However, you can  take advantage of the recent directions of the Apex Court on account of the Covid situation -

I.The order dated 23.03.2020 is restored and in continuationof the subsequent orders dated 08.03.2021, 27.04.2021 and   23.09.2021,   it   is   directed   that   the   period   from 15.03.2020 till 28.02.2022 shall stand excluded for the purposes of limitation as may be prescribed under any general or special laws in respect of all judicial or quasi-judicial proceedings. 

II. Consequently, the balance period of limitation remaining as on 03.10.2021, if any, shall become available with effect from 01.03.2022.

III. In cases where the limitation would have expired during the   period   between   15.03.2020   till   28.02.2022, notwithstanding   the   actual   balance   period   of   limitation remaining, all persons shall have a limitation period of 90 days  from   01.03.2022.  In   the  event   the   actual  balance period of limitation remaining, with effect from 01.03.2022 is greater than 90 days, that longer period shall apply.

Thank you everyone.