How To File Recovery Suit For Founder Of A Firm ?
Summary Suit or Summary procedure has been provided under Order 37 of the Code of Civil Procedure, 1908. The provision of summary suit applies to- All suits related to bills of exchange, hundies and promissory notes. The suits where the plaintiff seeks to recover a debt which is to be payable by the defendant, due to a contract or an enactment, where the sum sought to be recovered is fixed. A suit for recovery of money under CPC can be instituted under this provision in the High Court, City Civil Court, Court of Small Causes or any other court of law as provided by the law. Limitation Period to file a Recovery Suit- The limitation period to file a civil suit is within a period of 3 years, any later than that the claim shall be barred by time. The companies, Partnership firms and traders etc., could file a suit for the recovery of their unpaid bills/ business due amounts or payment if there is a written agreement between the parties. In o...