Legal Question in Credit and Debt Law in India

can winding-up petition be filed after 6 six years from the date of last payment received and on what grounds? Wherein the debt is legally enforceable. since it was 6 years back, the limitation period for recovery has expired. there fore winding up or otherwise recovery suit cannot be filed. Then in this case what can be legal remedy and how to recover money? What suit can be filed and where?


Asked on 9/05/10, 9:23 pm

1 Answer from Attorneys
Vishwa Arya Arya & Co.

I am sorry! This debt has died its own death. The limitation gets extended only if debt had been acknowledged during the limitation period and then fresh limitation starts from the date of acknowledgement. In any event, if you show the papers to any advocate to see if any remedy could work out

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Answered on 9/11/10, 10:21 pm


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