https://www.taxtmi.com/caselaws?id=295602 A promissory note executed in renewal of an earlier interest-bearing liability was treated as a loan within the Bihar Money-Lenders (Regulation of Transactions) Act, because the statutory definition of "loan" extended beyond a fresh advance to such renewal transactions; on that basis, the section 4 bar did not apply and the suit was maintainable. For limitation under section 20 of the Indian Limitation Act, 1908, a post-dated cheque accepted as conditional payment was effective only from the date it bore, since it could not be honoured earlier; the written acknowledgement also satisfied the statutory requirement. Limitation therefore ran from the cheque date and the suit was within time. en-us Fri, 26 Aug 1966 00:00:00 +0530 Thu, 10 Jun 2021 16:41:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295602 A promissory note executed in renewal of an earlier interest-bearing liability was treated as a loan within the Bihar Money-Lenders (Regulation of Transactions) Act, because the statutory definition of "loan" extended beyond a fresh advance to such renewal transactions; on that basis, the section 4 bar did not apply and the suit was maintainable. For limitation under section 20 of the Indian Limitation Act, 1908, a post-dated cheque accepted as conditional payment was effective only from the date it bore, since it could not be honoured earlier; the written acknowledgement also satisfied the statutory requirement. Limitation therefore ran from the cheque date and the suit was within time. Case-Laws Indian Laws Fri, 26 Aug 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295602