Loan recovery

Actually the case is like this- In 2010 the client bought a truck from Tata Motors India Ltd in Loan. He did a contract with the company that he will pay the money with interest within a certain time limit.That money will come fromselling the goods by using the vehicle. Now,in 2011 he facedeconomical problem and failed pay the installments with interest.the company sent him several notices to pay the dues.But he was running in loss.Now,the company sent him arbitration notices and called him to contact with them for arbitration agreement. In the mean time,the agents used to come to his house collect the payment as before.they told him not to take tension for arbitration and just continue to pay the installments.as i said u before that he was running in loss so he did not stop to pay them but he paid them as much as he can and not the full amount. He went to a High Court Advocate to get relief bt the lawyer just sent a notice to the company mentioning that my client's economical condition is very poor and please give me sometime to pay the dues.As soon as the notice was sent the company sent the notice of ad-interim award to the client mentioning that if you cannot pay the full due company will croak the vehicle from the road. But the agents are taking the payment as usual from his home. Recently the company agents went to his home to take payment,but he refused to give,because they refused to give their identity that they are coming from Tata motors. Yesterday a registry letter frm Tata Motors regional office was recieved by him.They have called him for conciliation strictly.Now my question is that(1)is there any remedy to save the vehicle.if yes,then how? 2)Is there any way to file a suit against the company? 3)If we go for conciliation,what should be our opinion? and last but not the least- please suggest me a way out that will be in our favour.in what way we have to proceed? Let me give u some more information the dues have reached upto 8 lakhs with interest in 10months. there is two years remaining.and we want to keep vehicle with us