Bombay High Court Allows Second Appeal in Loan Recovery Suit — Suit Barred by Limitation Under Article 19 of Limitation Act, 1963. Court holds that a suit for recovery of loan amounts advanced between 1981-1997, filed in 2002, is governed by Article 19 (three years from the date of loan) and not Article 1 (for accounts), as the loan was not a mutual, open, and current account....
The Respondent, Vijay Construction, filed a suit on 31.10.2002 against the Appellants, Pedro Antonio D'Souza and Rita D'Souza, for recovery of ₹4,20,538.61 with interest at 17.5% per annum, claiming...
