Repayment of Loan
my father gave rs 70000 to someone in 2006. even today he is refusing to pay. what to do. we have witten evidence dated 2006.
You can send a legal notice to the debtor for the repayment of the amount based on the evidence available with you. The main issue in you case would be the fact that if you intend to file a civil suit, your case may be barred by the Limitation Act. Under this Act, you can file a suit for the recovery of a loan within three years from the date on which the repayment is due. As per Article 113 of the Schedule of the Limitation Act, if the time period for payment is not given then the suit must be filed within three years from the date the cause of action arises.
It is advised that you must share the details of the agreement/contract/document signed in 2006 with a lawyer so that he can help you find out if the limitation period is over or not.
Research by - Saumya Kumar, Lawfarm
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