What Is The Process Of Recovery Suit In India For Nri Business ?

Category: Academics

Suit for money recovery provided under CPC- The lawsuit for money recovery provides legal remedy so as to collect money from a defaulter. A lawsuit can be filed under Order IV of the CPC, 1908, the provision of which shall be similar to the summary suit as provided under Section 37 of the CPC which provides for a speedy resolution as the other party will not be allowed to defend as a subject of rights, that too after having received permission from the court. Order 37 of the CPC has been introduced in the favour of a potential plaintiff, who is willing to initiate a civil suit. Generally, Rule 1, Sub-Rule 2 will be applied to all suits which are related to bills of exchange, hundies, promissory notes, etc which the aggrieved party seeks to recover debt or some liquidated demand in money payable on the basis of a written contract, an enactment, where total amount to be repossessed shall be a definite amount owed to the plaintiff.