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HIGH COURT OF BOMBAY
MANISH PITALE, J
Shri Pedro Antonio D' Souza, alias Pedro Antonio Souza, Smt. Rita D'Souza, alias Rita Peter Souza – Appellant
Versus
M/s. Vijay Construction – Respondent
| Table of Content |
|---|
| 1. the suit's nature regarding loan obligations and rental agreements. (Para 1 , 2 , 3 , 4 , 5) |
| 2. arguments regarding limitation applicability for loan recovery. (Para 8 , 9 , 10 , 11 , 12) |
| 3. judicial interpretation of accounts' mutuality and independent obligations. (Para 14 , 15 , 16 , 17 , 18) |
| 4. court's final position on limitation and recovery of debts. (Para 23 , 26) |
JUDGMENT
1. The only question that arises for consideration in this Appeal is, as to whether the suit filed by the Respondent was within limitation. According to the Respondent (original Plaintiff), the suit was filed within limitation by application of Article 1 of the Schedule to the Limitation Act, 1963 , while the Appellants claim that the suit was barred by limitation by applying Article 19 thereof.
2. The Respondent filed suit against the Appellants on 31.10.2002, for a Decree directing the Appellants to pay a sum of ₹4,20,538.61 along with interest at the rate of 17.5% per annum from 01.11.2022 till actual payment. According to the Respondent, the said amount was due towards loan amounts advanced to the Appellants on various dates between 1981 to 1997. It was the case of the Respondent that it
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