Need advice on limitation act

HAPPY NEW YEAR TO YOU TOO.

Usually members of this forum are reluctant to Question/Answer type in the form of Querry.

Your query is either vague   or devoid of details which doesn't enable us to render proper opinion to your query which appears more a riddle than a query. 

You may revert with more details if you're really serious about your issue. 

I have a contract with another party.  It is a commercial transaction. We are partners in a private limited firm.

We have a written agreement.

The party used to continually threaten me to shutdown the company, by not contributing his end of the equity contribution,  if I did not do this, or this, or this. But he never did this, or this, or this but he contributed to equity, less that what he was contractually required to do. All this again, more than three years back.

He also violated a few provisions in our agreement.

My problem is that the violations took place mostly more than three years back.

He has sued me asking me to compensate him for his contribution of the equity and that too at a very high rate.

In my WS, I am going to plead equitable set-off.   I found out that equitable set-off, as it is a defense, limitations does not trigger but as it is a defense, it will only get me to negate his claim. To get more, I need to file counter-claims. 

In counter-claims, Limitation of three years for fraud and breach of contract kicks in. How do I get over it? Some pointers would help.  This is a very involved question. 

The proposed counter claim is barred by limitation hence no such claim is maintainable 

It appears that for Equitable set-offs as defense to a simplicitor Money Recovery Suit, Limitations Act does not apply. That is interesting! But you are right, for counter-claims, the Limitation Act applies.

Thanks for your understanding, you may discuss with your advocate on all such further issues.