What is the significance of period of limitation?
Indian Limitation Act, 1963, is based upon the principle of equity, justice and good conscience and founded upon public policy. The main aim of Indian Limitation Act, 1963, is to protect the parties from unnecessary harassment and hardship. That is why, this act prescribes the period of limitation for every suit, application and appeal.
According to the provisions of Indian Limitation Act, 1963, it is responsibility of an aggrieved party to file the suit within the period of limitation. If an aggrieved party does not file the suit within the prescribed period, then it is mandatory for the court to dismiss that suit.
In the leading case of Shankar Dass Narayan Dass vs. Sita Ram Jawala, the Hon’ble court held that if the person does not file the suit within the period of limitation, then then court has no power to protect the person from the rigors of the provisions of this act. If the suit has been filed after the period of limitation, then it is mandatory for the court to dismiss that suit.
The main objective behind these provisions is to protect the interest of innocent parties. If a person files a suit against another person, then the latter person has right to defend himself and he can do so by producing relevant evidences. But if a person files a suit against another person after a long period of time, then it might be possible that the evidences of latter person may disappear or the memory of his witnesses may get faded.
So, in these circumstances, it is very difficult for the defendant to defend himself. That is why, to protect the defendant from such unusual circumstances, the provisions regarding period of limitation have been enacted in the Indian Limitation Act, 1963. The provisions of Indian Limitation Act, 1963, not only protect the interest of the parties, but also saves the precious time of the court and public money.