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SANJEEV KUMAR, CA, DELHI (PROP)     27 December 2016

Whether superdari required

MR. X TOOK LOAN FOR FINANCING OF CAR. LOAN WAS DISBURSED BY NATIONALISED BANK. AND MR. X SUBKITTED MR. X FRADULENTLY SUBMITTED TO THE BANK FORGED BILL/INVOICE AND COPY OF RC WHERE THE BANK HYPOTHECATION CLAUSE WAS MENTIONED BUT IN ACTUAL PAPERS THE BANK HYPOTHECATION CLAUSE WAS NOT THERE/MENTIONED. AFTER SIX MENTIONED MR. X SOLD VEHILCE TO MR. Y AND MR. Y GAVE SALE CONSIDERATION IN CHEQUE. MR. Y IS A BONAFIDE GENUINE BUYER.

AFTER SOME TIME MR. X STOPPED EMI PAYMENTS TO BANK AND BANK CLASSIFIED ACCOUNT AS NPA. ON INSPECTION THE TOTAL FRAUD COMMITTED BY MR. X CAME TO KNOW. THE BANK LODGED FIR AGAINST BORROWER. THE IO CALLED THE MR. Y WITH VEHICLE AND IMPOUNDED.

NEW THE QUESTION ARE AS UNDER:

1. HOW THE VEHICLE CAN BE IMPOUNDED BY IO ALTHOUGH MR. Y IS BONAFIDE BUYER AND NO WHERE HE IS CONNECTED WITH THIS FRAUD AND IN FIR NAME OF MR. Y HAS NOT BEEN MENTIONED.

2. HOW THE VEHICLE CAN BE RELEASED.?

3. IS SUPERDARI PROVISIONS APPLICABLE? IF APPLICABLE WHETHER MR. Y IS REQUIRED TO GIVE SURITY OF SUPERDARI BOND? OR SIMPLY BOND IS TO BE EXECUTED?

4. WHY THE HONEST BUYER SHOULD SUFFER.?

5. ANY OTHER REMEDY:

S KUMAR

 

 



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 2 Replies

adv.bharat @ PUNE (Lawyer)     29 December 2016

1) action need to be taken n mr X for fraud.

How it is possible with out name in FIR how IO can call y for investigation.?

2) Satisfy all the liability of vehicle to relase the vehicle.

3) Mr . Y need to give indemnity bond to bank for satisfy the debts.

As present owner is Y he need to fact the liability .

Will u appreciate this answer by giving like on mY LCI Profile?

SANJEEV KUMAR, CA, DELHI (PROP)     06 January 2017

Mr. Y is lawful purchaser of vehicle and he made paid lawful consideration to Mr. X.

Is superdari applicable for release of vehicle by Mr. Y.

Is there any case law of this kind.


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