About this document
Limitation Law in Bank Loan Recovery by Giraf The great is a document available to read on EtoBox.
The Law of Limitation in India governs the time frame within which banks must initiate recovery proceedings for defaulted loans, as outlined in the Limitation Act, 1963. The limitation period typically begins from the date of loan default or acknowledgment of debt, and can be reset through written acknowledgment or part payment. Courts uphold that the Limitation Act applies even under special recovery laws, emphasizing the need for timely action by banks to protect their recovery rights.
- Author
- Giraf The great
- Language
- EN