Legal Question in Credit and Debt Law in India

what is meaning of limitation period in case of non payment of credit card.


Asked on 3/07/13, 8:41 pm

3 Answers from Attorneys
Jayesh Desai Jayesh Desai

It is as defined under the Indian Limitation Act.

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Answered on 3/08/13, 1:25 am
Fca Prashant Chavan Expert Edge LLP

08.03.2013

Dear Sir / Madam,

"Limitation Period" is the specified time till which an acknowledged debt is required to be settled.

The limitation period for a credit card settlement is three years in India from the date of last correspondence between the parties.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

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Answered on 3/08/13, 5:26 am


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