See you have acknowledged the loan in 2018 so it is not time barred .

Yes it's time barred debt. You don't reply to any communication else they will get the fresh limitation

See for loan limitation is from acknowledgement of loan so by depositing interest therefore you have acknowledged the loan.

As per facts it's a time barred debt

Since you have paid interest till December 2018 claim of lender is not barred by limitation 

Claim

of lender is not barred by limitation 

Lender can take legal proceedings to recover loan amount 

Hi

Your loan is not time barred, since the last payment paid by you pertains to December, 2018 time starts from then.

Your lender's notice is valid.

In case if you fail to honour the notice, he may initiate case for recovery of money in court of law.

Better have a one-to-one dialogue and get the matter settled outside if possible (like OTS)

If he accepts for the same, make payment and take no due certificate from him

If there is no promissory note or agreement signed by you than how can you pay than loan.

Have you given any blank cheques to money lender?

Or paid tell date by cheques or cash ?

Does money lender has any proof or evidence against you on mobile, chat, sms etc ?

See you can take view from other esteemed colleagues but limitation starts from acknowledgement.

1. YES. It is possible to claim Time-Bar under the Limitation Act, PROVIDED there is no documentary evidence of the Loan & Payment of Interest amounts.

2. Further, FYI, Giving Loan without a valid "Money Lending License" is a prosecutable offence and the money lender cannot legally claim such unlicensed money lending amounts.

Keep Smiling .... Hemant Agarwal

Why this is a time barred loan even in case you do not pay a single EMI of interest the loan should not be bad and the lender have all the right to receive the amount so in case somebody is advising you not to pay it may be going to create some problem for you it is better to settle down to avoid the legal case and you will end up paying interest along with the legal charges and the principal amount do you have any sufficient ground after not paying as you were paying interest till December 18

Do this lender have a money lending license ? If not than he cannot lend on interest.

And how much amount you have paid till now, max you need to pay 2 lacs and no interest. You have paid till dec 2018, limitation start from dec 2018 and is 3 years .

Dear

The loan is not time barred because you have paid and acknowledged the loan till December 2018 and lender can take action against you for recovery of debt. 

If the payment is made through cheque then lender can produce the bank statement for having made the payment, if the same is by cash, the cash receipt can be produced. if there is no proper evidence then it is not possible for lender to recover loan. 

1. If you admit that you have takem loan on December'2015, then you are expected to return it at agreed terms within agreed period, even if agreed verbally.

2. There is no time bar in repayting a loan amount.

3. Moreover, you have been paying interest till December'2018.

4. You do not have very strong case inrefusing to repay the loan you had admittedly availed from him.

1. One lawyers view is not shown to other lawyers or which it is difficult to forward argument in support of against any such view.\

2. It appears that you have admitted having taken the loan by way of paying the interest uptill De cember'2018.

3. So, you arew required to repay the same and theclaim is not time barred.

1. If you have availed loan from a Bank by mortgaging your property then the Bank shall have to  file Original Application before the Debt Recoivery Tribunal within 3 years from the date of  acknowledgement of the debt.

2. The Bank or any private lender can file a Recovery Suit before the civil court within 12 years from the date of the cause of action.

3. It appears that the lender has sent the legal notive as the  prelude to filing of the casec against you. 

Your loan is not barred by limitation since you have been paying the loan interest till 2018, hence it will be barred by limitation only after the year 2021 provided there was no transaction between yo and the lender in between.

If there are no evidences for having advanced this loan amount to you by the lender, then you may issue a reply notice denying the entire loan amount and do not make any commitment that you have paid the interest so far to it etc. 

Let him go to court of law where the burden to prove the same will lie on his shoulder.

You can accept the views of the lawyer which is suiting your taste, different lawyers will be having different views, you cannot avoid it.