Nature of grievance

SUIT TO CANCEL OR SET ASIDE AN INSTRUMENT OR DECREE OR FOR THE RESCISSION OF A CONTRACT: Where any person who is entitled for the revocation of the contract – A Suit may be filed for the revocation of the contract, within 3 years from the date, when the facts entitling the plaintiff to have the contract being revoked, first becomes known to the person concerned, under Article 59 of the Indian Limitation Act, 1963.

Where consent to an agreement is obtained by coercion, fraud or misrepresentation, the agreement is a contract voidable at the option of the party whose consent was so obtained; and where both the parties to an agreement are under a mistake of fact essential to the agreement, the agreement is void. In such situation the defrauded party has three remedies are open to him, namely –

He may rescind the contract absolutely and sue to recover the consideration parted with upon the fraudulent contract; or

He may bring an action to rescind the contract and in that action have full relief; or

He may retain what he has received and bring an action to recover the damages sustained