Apni Law Staff asked 3 years ago
A Mumbai-based firm signed a service agreement with another company on December 4, 2012. However, the company now wants to invalidate the contract, claiming the directors had a hidden interest in it that wasn’t revealed to the board. They filed a lawsuit in January 2016. Will the lawsuit be rejected because it was filed too late?
1 Answers
Best Answer
Apni Law Staff answered 3 years ago
Under the Indian Limitation Act, 1963, a suit to declare a contract void based on a director’s undisclosed interest must be filed within three years from the date the contract was signed. As the lawsuit was filed in January 2016, exceeding the three-year limitation period, it is likely to be rejected as time-barred.
Please login or Register to submit your answer
OR
