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IN THE HIGH COURT OF DELHI AT NEW DELHI
ANIL KSHETARPAL, AMIT MAHAJAN
Federal Bank Ltd. – Appellant
Versus
B.M. Bajaj through LRs – Respondent
JUDGMENT :
ANIL KSHETARPAL, J.
1. The present Appeal, filed by the Appellant, assails the correctness of the judgment and decree dated 13.02.2023 [hereinafter referred to as ‘Impugned Order’] passed by the learned Commercial Court in CS(COMM) No. 349/2021, whereby the suit filed by the Appellant for recovery of Rs.10,91,115/- along with interest came to be dismissed.
2. The Respondents, despite service, neither entered appearance before the learned Commercial Court nor filed their written statement and were accordingly proceeded ex-parte. Even before this Court, none has entered appearance on their behalf despite service. The Appeal is, therefore, being adjudicated after hearing learned counsel for the Appellant and upon careful perusal of the record.
3. The principal issue that arises for consideration in the present Appeal is whether the learned Commercial Court was justified in dismissing the Appellant’s suit as being barred by limitation and further holding that the Appellant had failed to duly prove its claim on account of alleged deficiencies in authorization of its representative and want of material particulars regarding the liability of the legal heirs of the original borrower
The court held that part-payments within the limitation period extend the limitation timeframe, and the suit was improperly dismissed as time-barred, affirming that legal heirs are liable only to the....
The delay in filing an appeal is not condoned when insufficient diligence is shown, and limitation is calculated based on the last payment, confirming the applicability of Articles 1 and 113 of the L....
An acknowledgment of debt must be in writing and signed to extend the limitation period; unsigned entries are legally insufficient.
(1) Preliminary issue – When issues of both law and facts arise in same suit, Court may dispose suit by trying issue of law first.(2) Money suit – Issue as to whether claim of appellant is barred by ....
The court established that the limitation period for recovery of loans starts from the date of the loan agreement, with the first day excluded in the computation.
The court clarified conditions for a reciprocal, mutual account under the Limitation Act, excluding claims due to lack of independent obligations among parties.
A suit for recovery of money is time-barred if initiated beyond the limitation period defined by the legislation, particularly under insolvency status without a valid license.
The enactment of S.45-O of the Banking Companies Act does not retroactively affect claims that are valid under prior limitation periods established by S.45-F.
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