Validity of promissory note when borrower filed a lawsuit

Kishor Mehta (CEO) 31 March 2019

A suit for collection has to be filed within the period specified in the Law of Limitations Act to be able to collect the amount and there is no alternative.

Kolkata advocate (Advocate) 31 March 2019

The promissory note was signed by the borrower 11 yrs ago when loan was just granted.but the DPN was blank. And borrower paid the principal amount plus few lakhs extra.. Can the promissory note be applied now after 11 yrs after sign of date?and is the borrower allowed to show all his payment record which shows he has paid entire principal amount+ some part of intetest in civil suit against him?

Kolkata advocate (Advocate) 31 March 2019

The promissory note was signed by the borrower 11 yrs ago when loan was just granted.but the DPN was blank. And borrower paid the principal amount plus few lakhs extra.. Can the promissory note be applied now after 11 yrs after sign of date?and is the borrower allowed to show all his payment record which shows he has paid entire principal amount+ some part of intetest in civil suit against him?

SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 01 April 2019

Please give dates.

When the loan was taken

When DPN was signed

When the last payment was paid by you and while paying whether you signed the bank challan

When bank filed suit agianst you

Who filed case in DRT. Borrower himself cannot move DRT. Its only Banks can file case in DRT.

Give full details for possible clarification.

Kolkata advocate (Advocate) 10 April 2019

Are you serious? Borrower himself filed the suit in Drt and consumer court as well..and pls study sec 17 sarfaesi. You will know how much rights borrower has got

Validity of promissory note when borrower filed a lawsuit

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