Promissory note validation

To recover the money limitation is 3 years from the date of execution of promissory note.  If there is cheques then those cheques can be used to recover the money by putting the date.  It is better to consult your lawyer so you can get the details 

Go Ahead. Your money will be safe. Promissory note can also be renewed / replaced before expiry of Limitation period of 3 years. However,

M/s Laxmi Dyechem Vs. State of Gujrat & Ors. (decided on  November 27, 2012) by Supreme Court; 

 2.        M/s Modi Cements Ltd. Vs. Shri Kuchil Kumar Nandi—

                      AIR 1998 SC 1057 ;

3.       K. I. George Vs. Muhammed Master-1999 (97) Comp Cas 664;

4.       Hiten P. Dalal Vs. Bratindranath Banerjee ---July 11, 2011 by SC;

5.       K. N. Beena Vs. Muniyappan & Anr.--SC—October 18, 2001;

6.       M.S.Narayana Menon @ Mani Vs. State of Kerala & Anr.

            Supreme Court of India --- July 04, 2006 ; 

7.       Ram Krishan Urban Co-Op. Credit Vs. Rajendra Bahgchand---    

              Bombay High Court ---Decided on 03-02-2010 ;

8.       Joseph Vilangadan Vs. Phenomenal Health Care Services Ltd. &Anr.--

                         Bombay High Court ---Decided on 20-07-2010 ;

9.       Phoolmati Devi Vs. State of U.P. & Anr.—decided on 02-12-2005 ;

                         Hon’ble Allahabad High Court 

10.      Navin S. Rupani Vs. State of U.P. & Anr.—decided on 02-12-2005 ;

                         Hon’ble Allahabad High Court

11.          Saran Kumar Yadav Vs. State of U.P. & Anr.—decided on 13/12/2005

                          Hon’ble Allahabad High Court

perusal of above cases would help and rescue you to a great extent. All d best. For further quarry you may contact :::: asksethadvct@gmail.com

You are always welcome.   akseth advocate

Prem can secure his interest for a further period of Three years by getting the Promissory Note revalidated/ renewed/ replaced before expiry of Three Years. :)

Just like how we have bond papers like 100 rs, 1000Rs just like that even i need to take a six month validity, 1 year validity promissory notes according to the tenure we need to invest.

 

Also please advise what we can do if the financier files an Insolvency Petition.