car recovery
Querist :
Anonymous
(Querist) 26 December 2009
This query is : Resolved
Dear Sirs
one got a car loan from SBI he was default in his emi subsequently the recovery dept took the car with out his knowledge and then he paid some amount .after getting the amount the bankers sold that car with out any intimation to the first owner to another bank staff (SBI) FOR CHEEP AMOUNT now the first owner is having the original registration certificate and bankers filed a suit for the balance amount and asking the original registration certificate
Is there any possibilities for the first owner to hold the car if so kindly guide or he simply skip the matter with out answering the suit filed by the bankers?//
s.subramanian
(Expert) 24 August 2010
The bank ought to have issued a notice to the registered owner after seizure and at the time of sale. The bank has acted illegally in not following it.
