Recovery of Debts by Corporate: Recovery Suits | Corporate Debt Recovery Attorney in Delhi NCR | Corporate Debt Recovery Lawyer in Delhi NCR |
The procedure is a bit lengthy considering that both the parties in the loan recovery dispute,
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This is a very common form of debt recovery that companies always prefer before the Courts of our nation nowadays. The procedure is a bit lengthy considering that both the parties in the loan recovery dispute, i.e., the company and the borrower, are given an equal opportunity to plead their cases and the evidence is given more of consideration. This form of a suit is more preferred by the corporate houses while considering the aforementioned reasons. While filing such a suit, a primary preference is given to the place where the defaulting borrower resides. To state a point of caution, the company must ensure that the suit is filed within three years from the date the cause of action arises, beyond which the Court will not consider the case. Such a suit is initiated in accordance with Order IV of the Code of Civil Procedure, 1908.
