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Whether limitation is saved if legal action is to be initiated for any shortfall of debt due upon initiation of action u/s 13 of the Act ?

April 26, 2017Action debt initiated initiation Legal limitation Saved shortfall

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Whether limitation is saved if legal action is to be initiated for any shortfall of debt due upon initiation of action u/s 13 of the Act ?

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No. Simultaneous action is preferable if the limitation is going to expire soon and the DRT/Court/BIFR as the case may be is to be informed suitably of the action initiated u/s 13 of the Act.