LAW FOR ALL

Limitation Act - Article 55 of the Limitation Act, 1963 - Section 29 the State Financial Corporation Act - suit against Contract of Indemnity arose only after execution of main contract of mortgage/hypothication as per sec.29 of State Financial Act and only after determination of balance due - Apex court held that the suit filed after ascertainment of balance due only cause of action starts but not from the date of recalling notice and as such the suit is within limitation - confirmed the orders of High court = Deepak Bhandari …..........Appellant(s) Versus Himachal Pradesh State Industrial Development Corporation Limited ….........Respondent(s) = 2014 (January part) judis.nic.in/supremecourt/filename=41189