Return of property (Lorry) from the Court
sankar.n
(Querist) 09 March 2010
This query is : Resolved
IS THERE ANY JUDGEMENT OR RULING IN FAVOUR OF THE LENDOR/FINANCIER/LEGAL OWNER TO GET BACK THE VEHICLE(LORRY) UNDER HYPOTHICATION FROM THE COURT WHILE THE RC OWNER IS OBJECTING TO IT AND ALSO CLAIMING TO GET THE VEHICLE(LORRY). THE CASE IS UNDER INVESTIGATION BY THE POLICE. THE LORRY HAS BEEN SEIZED BY THE POLICE FROM THE CUSTODY OF THE FINANCIER WHICH WAS LEGALLY REPOSSESSED DUE TO DEFAULT IN THE PAYMENT OF DUES BY THE HIRER/RC OWNER. THE RC OWNER HAD GIVEN A COMPLAINT UNDER 420 IPC AGAINST THE RE-POSSESSION OF THE LORRY BY THE LENDOR/LEGAL OWNER/FINANCIER.
Raj Kumar Makkad
(Expert) 09 March 2010
Financer is very well entitled to get re-possession of the vehicle against the violation of the terms of loan and court give due regard towards this fact.
Kumar Thadhani
(Expert) 11 March 2010
Yes the financier can very legally is entitled by repossession of vehicle due to non-payment or default on terms of loan.
