Back
IN THE HIGH COURT OF KERALA AT ERNAKULAM
A. BADHARUDEEN, J.
Canara Bank Branch Office, Kayamkulam, Kayamkulam. P.O. – Appellant
Versus
Sreekumari K. W/o. Anil Kumar S. – Respondent
JUDGMENT :
This regular first appeal has been filed under Section 96 read with Order XLI Rule 1 of the Code of Civil Procedure, 1908.
2. The plaintiff in O.S. No.236 of 2012, on the files of the Sub-Court Mavelikkara, has preferred this appeal, arraying the defendants as the respondents herein, while challenging the decree and judgment dated 30.10.2014 therein.
3. Heard in detail. Perused the verdict under challenge as well as the records of the trial court.
4. For effective and easy discussion, the parties in this appeal will be referred to as ‘plaintiff’ and ‘defendants’ hereafter.
Short facts:-
5. The plaintiff is a Nationalised bank constituted and functioning under the Banking Companies (Acquisition and Transfer of Undertaking) Act 1970 with its head office at Bangalore, having branches at several places, including one in Kayamkulam. The Manager of Kayamkulam branch Sri. Hari. N, who was duly authorized to represent the plaintiff to sign and verify the plaint for and on behalf of the plaintiff, filed the suit. According to the plaintiff, the 1st defendant availed a loan of Rs.2 lakh from the plaintiff on 23.06.2005 to improve her business. The 2nd defendant stood as co-obligant for
An acknowledgment of debt made in writing before the expiration of the limitation period resets the limitation period, as per Section 18 of the Limitation Act.
The acknowledgment of debt for limitation purposes must be explicit, written, and made before the expiration of the limitation period; mere disputes do not suffice.
Acknowledgment of a debt in writing interrupts the limitation period allowing a fresh period from the acknowledgment date, making the suit valid despite initial time lapse.
A promise to pay a time-barred debt constitutes a valid contract and can serve as a fresh cause of action.
An acknowledgment of debt must be in writing and signed to extend the limitation period; unsigned entries are legally insufficient.
The balance sheet can constitute a valid acknowledgment of debt under Section 18 of the Limitation Act, even without explicitly mentioning the creditor's name, provided it reveals a jural relationshi....
Documents intended for evidencing debt must be stamped; however, if intended as acknowledgments to save limitation, they may not require stamping.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
