If someone has given a cheque of Rs 5 lac to a relative without any written agreement. Now he wants the money back after 6-7 years.
1. Is it possible?
2. How this amount is considered? a loan, gift or what?
raman (private) 23 September 2012
If someone has given a cheque of Rs 5 lac to a relative without any written agreement. Now he wants the money back after 6-7 years.
1. Is it possible?
2. How this amount is considered? a loan, gift or what?
A.SUMATHY 9380902017 (LAWYER) 23 September 2012
waste. not possible after 3 years from the date of cheque.
dont waster your time.
Ajit Singh Cheema (practising Advocate) 23 September 2012
1) the period of limitation for recovery of the loan advanced by you is three years, which clearly stand barred.No possibility of recovery through legal means.
2)The amount advanced by you is a loan .
raman (private) 23 September 2012
If such loan has been advanced by a seniour citizen to his son or daughter, even then one can not ask for condonation of time limitation?
Ajit Singh Cheema (practising Advocate) 23 September 2012
Neither age nor relationships matter under the law of limitation.
raman (private) 23 September 2012
Thanks for your valuable advice!
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