In Brief
Sundaram Finance Limited provided hire-purchase financing for a commercial vehicle to Noorjahan Beevi. When Beevi defaulted on instalments in May 1984, Sundaram seized the vehicle and sold it in May 1985. After adjusting sale proceeds, Sundaram sued for the balance amount in May 1988. The trial court and High Court dismissed the suit as time-barred under the three-year limitation period in Article 55 of the Limitation Act, 1963. The Supreme Court upheld the dismissal, holding that the right to sue arose when default occurred in May 1984, not from the later sale date. The suit, being filed nearly four years after default, was barred by limitation.
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