Commercial Summary Suit / Summary Suit / Regular Money Suit, by a Surety against the principal Debtor
Nature of Cause of action
SUIT BY A SURETY AGAINST THE PRINCIPAL DEBTOR: Where the Surety lawfully pays debt of the principal debtor, but the principal debtor refuses to repay the same to the Surety – A Suit may be filed for the recovery of said money, within 3 years from the date when the Surety paid the Creditor, under Article 42 of the Indian Limitation Act, 1963.
The remedy of Suit is subject to existence of any Arbitration Agreement / Clause between the parties. The remedy of Suit is further subject to exclusive jurisdiction being conferred upon specially constituted Tribunals or Courts, or upon any Statutory Authority, to exclusively deal with certain kind of disputes.
