Time bar limitation for housing loan

Discuss with your money lender.

No legal issue is involved for consideration and obligation of experts on this platform.

Bankers obtain term loan agreement and they might have taken adequate precautions to overcome such limitation aspects.  Do not be overconfident that bankers can not proceed against you as the limitation period (According to you) was over by 2012.  This is a mortgage loan and the title deeds must have been registered and the only way before you is talk with a banker and repay old installments and continue repaying installments.  You can not raise a single rupee in the market from any financial institution when your account is NPA with a bank.

I fully agree with Shri Prasad. 

Having taken the loan it's your responsibility to repay it. 

To reply specific query of limitation, please note it's not a pronote based loan and so 3 year limitation does not apply. It's an agreement based loan where each instalment has limitation. 

Bank needn't file suit. They can take posession of the house purchased under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 abd dispose it to recover their dues.