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vikash (SPECIAL CORRES)     13 September 2021

Mortgage

A given loan to B in which B have 2/3rd share and 1/3rd is minor name form past 6years no payment received. What action A can take to recover the money


Learning

 1 Replies

Kevin Moses Paul   14 September 2021

As per your concern let me inform you that the Limitation Act, 1963 provides for a certain fixed period for filing up appeals and cases. It is based on a general principle that for any act which is in violation of any law, there has to be a strict period to file to protect only diligent and reasonable people and not to those who are careless about their rights.

The principle is based upon a Latin maxim - “Vigilantibus non domeintibus jur a subventiunt”, which means that the law assists only those who are vigilant, and not those who sleep over their rights.
The maxim refers to the obligation of individuals to not only be aware of their rights under the law, but also to be vigilant while exercising or using the same.

The Limitation Act provides for the different time periods for different types of situations in civil cases The Schedule in this Act provides for different structures and different periods for limitation such as :-

⭕ a period of 3 years for a suit which relates to accounts, declarations, contracts,
⭕ 12 years for the suit which relates to possession of the immovable property and 30 years for mortgaged property,
⭕ and 30-90 days in case of appeals under the Civil Procedure Criminal Code and CPC.

However, if in case you have valid details of such lending of the money, you may consult a local lawyer in order to look up for ways to resolve the issue.

Hope the above based information helps.

Regards,
Kevin M. Paul

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