I have read your article on debt older than 3 years is considered time barred.
This also applies to COOP HSG SOCIETY IN MUMBAI?
Thanking you and awaiting your prompt reply
I C Naik
The M C S Act 1960 provides for internal dispute settlement through Cooperative Court under Chapter IX settlement of disputes s91- s101.
Section 91 covers certain disputes one kind in that is:
(i) a claim by or against a society for any debt or demand due to it from a member or due from it to a member, past member or the nominee, heir or legal representative of a deceased member, or servant for employee whether such a debt or demand be admitted or not;
Section 92 clarifies that:
( 1) Notwithstanding anything in the Limitation Act, 1963, but subject to the specific provisions made in this Act, the period of limitation in the case of a dispute referred to the Co-operative Court under the last preceding section shall–
(a) when the dispute relates to the recovery of any sum, including interest thereon, due to a society by a member thereof be computed form the date on which such member dies or ceases to be a member of the society;
So no time barring as long as member is alive.
