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Nilay K. Khadepau (sta)     18 February 2010

sale of car still under hypothecation from bank

I'm very new to this & not sure if this matter will be civil or something else.

 

Basically the Issue is:

1. I gave cheque to my colleague's father-in-law to buy his 2nd hand car. He in turn was to repay the auto loan on that car which he never did.

2. He gave me in writing that chq number ..taken & will provide the NOC within 4 days in a simple letter.

3. He Keeps telling for  next 1 month that his brother is serious & in Lilavati.

4. Runs away out of his rental accomodation in Mumbai.

5. My colleague & Son-in-Law is smartly telling that he was not involved in the deal although during the entire deal his father-in-law used son-in-law's car (other car) with office logo to impress me & empower the trust.

 

Qs:->

1. Which IPC # can there be case against the person absconding & taking away the cheque without clearing the loan?

2. Will the bank be eligible to collect the car or can I avoid that ?

Any kind of help is welcome !!

Thanks,



Learning

 4 Replies

A V Vishal (Advocate)     18 February 2010

1. Which IPC # can there be case against the person absconding & taking away the cheque without clearing the loan?

Ans. You can file a criminal case of cheating.

2. Will the bank be eligible to collect the car or can I avoid that ?

Ans. Yes the bank can seize the car because it is still hypothecated with them. They can seize and sell the car to recover the emi's.

Arvind Singh Chauhan (advocate)     18 February 2010

I agree with Vishal Sir.

Nilay K. Khadepau (sta)     19 February 2010

For filing criminal case of cheating against the seller will I need to file a FIR ? 

Will criminal case of IPC 420 or 419 be levied on the seller ?  also can son-in-law be dragged via some way in this ? 

Nilay K. Khadepau (sta)     02 March 2010

Kindly update. the fraud guy still emails me that we will solve the issue but doesnt do anything.


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