https://www.taxtmi.com/caselaws?id=312626 A suit against a guarantor was held to be within limitation because the borrowers' timely acknowledgment of liability, executed under an authority contained in the guarantee agreement, attracted Section 18 of the Limitation Act, 1963 and gave a fresh starting point of limitation against the guarantor. The claim was also supported by immovable property mortgaged as collateral security, so Article 62 of the Limitation Act, 1963 applied to the enforcement of money secured by mortgage, carrying a twelve-year period. On this footing, the limitation applied by the trial court was incorrect and the claim against the guarantor could not be dismissed as time-barred. en-us Fri, 31 Jan 2014 00:00:00 +0530 Wed, 28 Feb 2024 17:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312626 A suit against a guarantor was held to be within limitation because the borrowers' timely acknowledgment of liability, executed under an authority contained in the guarantee agreement, attracted Section 18 of the Limitation Act, 1963 and gave a fresh starting point of limitation against the guarantor. The claim was also supported by immovable property mortgaged as collateral security, so Article 62 of the Limitation Act, 1963 applied to the enforcement of money secured by mortgage, carrying a twelve-year period. On this footing, the limitation applied by the trial court was incorrect and the claim against the guarantor could not be dismissed as time-barred. Case-Laws Indian Laws Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312626