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GOPINATH P.
Subrahmanian S/o Nampan – Appellant
Versus
District Collector, Malappuram – Respondent
JUDGMENT :
GOPINATH P., J.
1. The petitioner has approached this Court challenging the revenue recovery proceedings initiated against him for the recovery of certain amounts due to the Indian Overseas Bank. The petitioner was a guarantor in respect of a loan extended to the 4th respondent. It is the case of the petitioner in the writ petition that the revenue recovery proceedings are barred by limitation.
2. A statement was filed by the 3rd respondent where it is stated that there is no question of the recovery proceedings being barred by limitation, as there was an acknowledgement of debt for the purposes of Section 18 of the Limitation Act, 1963. Reference is made in this regard to Exts.R3(b) and R3(c). Ext.R3(b) is dated 24-11-2014 and Ext.R3(c) is dated 13-12-2012. Ext.R3(b) is executed by the borrower, while Ext.R3(c) is executed by the petitioner. It is not disputed that if the date of Ext.R3(c) acknowledgement of debt by the petitioner is taken into consideration, the revenue recovery proceedings are not barred by limitation. It is also pointed out that the personal guarantee executed by the petitioner clearly indicates that any acknowledgement by the principal debtor in relati
Article 137 of Limitation Act reads as description of application.
Debt is not the same thing as right of action for its recovery – While debt is right in creditor with correlative duty on debtor right of action for recovery is in nature of a legal power.
Ext.P4 notification enhancing DRT's pecuniary limit to Rs.20 lakhs supersedes previous restrictions on debt recovery actions below this threshold.
Rule 68B of the Income Tax Act does not apply to recovery proceedings under the RDDB Act; the limitation period for such recoveries is governed by the Limitation Act.
The DRT has the authority to condone delays in applications under Section 17 of the SARFAESI Act, applying the Limitation Act provisions.
The DRT must consider the Limitation Act's provisions regarding the condonation of delay in SARFAESI applications, ensuring just consideration of delay reasons.
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