2022 (10) TMI 1198

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.... Adv. For the Respondent : None ORDER 1. Leave granted. 2. These appeals are at the instance of the original complainant of a complaint lodged Under Section 138 of the Negotiable Instruments Act, 1881 (in short "the N.I. Act") and are directed against the orders passed by the High Court of Punjab and Haryana at Chandigarh dated 15.01.2020 in the CRM-M No. 27736 of 2019 by which the Hig....

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...., we find that the High Court thought fit to quash the proceedings on the premise that on the date of summoning the Accused the legally enforceable debt was time barred. 5. The High Court seems to have proceeded on the footing that there is no averment in the entire complaint as regards any kind of acknowledgment of the said debt by the Accused within the period of three years i.e. within the l....

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....nt in the entire complaint as regards any kind of acknowledgement of the said debt by the Petitioner within the period of three years i.e. the limitation period to recover the debt. Thus, there being no acknowledgement by or on behalf of the accused, it cannot be said that the complaint filed in respect of the said debt was maintainable." 7. Thus, what is sought to be conveyed by the High Court....

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....arred by limitation because no acknowledgement was obtained before the expiry of three years from the date of loan. However, as noted above, the understanding was to discharge the liability within a period of seven years. Prima facie, we are of the view that the period of limitation would start reckoning from the expiry of the period of seven years. 8. Once a cheque is issued and upon getting d....