Issuance of second hand policy
S Viswanatha Rao
(Querist) 22 March 2014
This query is : Resolved
I had car with me with ICICI Lombard Car Policy and placed at the bank's disposal in Oct 2013. along with mandatory documents including transfer of ownership form to this bank. I had also received sale proceeds from bank. Subsequently the bank issued another policy to the new customer/policy holder in Feb 2014 and I received e challan from traffic police stating that some traffic has been violated by the present owner of the vehicle. As on date of offence, my old policy is not in force. However, I have transmitted this notice to the bank requesting them to send it to the present owner. Issue is under examination by bank.
Kindly indicate whether the bank can issue another policy on the same vehicle without effecting transfer of ownership of the vehicle in favour of new owner. While presenting papers, Is this Policy valid one .I have already furnished all the information in all the columns
Sudhir Kumar, Advocate
(Expert) 23 March 2014
subjective query . perusal of documents needed for giving views.
Rajendra K Goyal
(Expert) 23 March 2014
Consult a local lawyer and show him all the documents.
T. Kalaiselvan, Advocate 
(Expert) 25 March 2014
It depends that whether your ownership was actually transferred on the date of alleged traffic rules violation by the driver on the quoted date. Show all the papers to a local lawyer and proceed as per his opinion.
