Nature of grievance

SUIT FOR MONEY PAYABLE TO THE PLAINTIFF FOR MONEY FOUND TO BE DUE FROM THE DEFENDANT TO THE PLAINTIFF ON ACCOUNTS STATED BETWEEN THEM: For the recovery of money due on the basis of accounts stated between the parties - A Suit may be filed for the recovery of said money, within three years, from the date when the accounts are stated, in writing, which is signed by the opposite party or his agent duly Authorized in that behalf; or where the debt is agreed to be paid at a future time, by a simultaneous agreement in writing signed by the opposite party or his agent duly Authorized in that behalf, and when that time arrives, under Article 26 of the Indian Limitation Act, 1963. “Accounts stated” may take the form of mere acknowledgment in a letter by the opposite party