limitation for instituting suit - commences from the date of default committed by him in paying one or more instalments and does not commence after expiry of the period mentioned in notice demanding.

Citation

CDJ 2002 MHC 148

Malati G. Dhamani Versus M/s Shriram Chits and Investments Pvt. Ltd. & Others

High Court of Judicature at Madras

Head Note

Tamil Nadu Chit Funds Act - Section 25 - Limitation - The period of limitation for instituting suit against prized subscriber on default committed by him to pay instalments commences from the date of default committed by him in paying one or more instalments and does not commence after expiry of the period mentioned in notice demanding repayment and that Article 37 of the Limitation Act applies and suit has to be filed within three years from the date of commission of default and that Section 25 of the Tamil Nadu Chit funds Act, 1961 does not postpone starting point of limitation.

Limatation Act - Article 37 - The period of limitation for instituting suit against prized subscriber on default committed by him to pay instalments commences from the date of default committed by him in paying one or more instalments and does not commence after expiry of the period mentioned in notice demanding repayment and that Article 37 of the Limitation Act applies and suit has to be filed within three years from the date of commission of default and that Section 25 of the Tamil Nadu Chit funds Act, 1961 does not postpone starting point of limitation.

Tamil Nadu Chit Funds Act - Chit Agreement - The term in the chit agreement cannot be contrary to the provisions of the Tamil Nadu Chit Funds Act.

Comparative Citations:
2002 (4) LW 505, 2003 (1) MLJ 31