Report No. 193
2. Substitution of new section 11 for section 11: -
For section 11 of the Limitation Act, 1963 (Act 36 of 1963) (hereinafter called the Principal Act), the following section shall be substituted, namely:- Suits on contracts entered into or legal rights and obligations arising outside the territories to which this Act extends:
"11Suits on contract entered into or legal rights and obligations arising outside the territories to which this Act extends.- (1) Suits instituted in the territories to which this Act extends, on the basis of:
(i) rights and obligations arising out of contracts entered in, or
(ii) rights and obligations of any other kind arising in the State of Jammu and Kashmir or in a foreign country, shall be subject to the rules of limitation contained in subsection (2).
(2) Subject to the provisions of this Act, where the substantive law applicable in the State of Jammu & Kashmir or in a foreign country is to govern a suit before a Court to which this Act extends, the period of limitation and the principle of extinguishment of the right as provided in the law of limitation of the said State or country, shall apply for institution of such suits and shall be regarded as part of the substantive law of the said State or country.
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