Dear All
Greetings!!!!
My name is navneet yadav and i am a resident of district rewari in haryana. I had purchased a Mahindra bolero in Nov 2007. The quotation was near about 7 lakhs. The owner of the agency was known to my cousin. I gave him 2.5 lakhs cash and he gave me the vehicle only with a gate pass. At that time he said that he would get the rest of the amount financed from some bank and took my documents , four blank cheques and my signatures on some papers and the signature of a guarantor(my cousin). He did not give me any receipt for the cash paid at that time. after one month he told me that the bank is not financing the rest of the amount and i need to pay some more amount. my cousin gave him 1.5 lakhs more but did not take any receipt. i continued using the vehicle. after 2-3 months he said that the bank is not financing the loan but he can finance the same on personal basis. i agreed. for 5 -6 months i didn't paid anything to him, coz i had paid Rs. 4 lakhs to him. when i approached him for the vehicle papers he said the same are in process for registration of vehicle. i kept on waiting and parked the vehicle at my house because i could not use it without a number plate on it. like this two years passed. after that when i pressurized him he gave me a registration certificate with number issued from a different registration authority with hypothecation on the name of Mahindra & Mahindra finance. i gave him the documents of my residence in rewari and he got the registration done from registration authority in another district (mahendergarh). i don't know from where he arranged the papers for registration because i don't have a residence in mahendergarh. i had a heated argument with him and he said that the vehicle was not registered at rewari because it was euro 2 compliant and rewari being in NCR region only euro 3 vehicles were registered. I told him that the quotation you gave me was of euro 3 only and accordingly i have made the payment.. why would i purchase a vehicle on my residential address which can not be registered on it by the authority??? later on some one told me that there was also a price difference between the euro 2 and euro 3 models. till date i had paid him 4.5 lakhs only and i made a stop payment request on the cheques that i had issued to him.
when i investigated the matter i found out that it was all planned by the agency owner. and also that he had cheated many more people like this. a criminal case was filled against the agency owner earlier (somewhere in 2000) in which the then SDM was the complainant himself. but nothing was done in this case. i had sent an e-mail to Mahindra motors complaining about cheating practices carried on by their dealer in rewari and narnaul, again they didn't took any action. I talked to some of the persons who were a victim of this cheating and they lodged a fresh FIR against the agency owner. the matter was investigated by police and based on the findings Mahindra Motors cancelled all three dealerships of this owner. but no compensation was paid to the aggreived persons.
This was the whole case scenerio. now the important question -
Two days ago i got a letter from some arbitrator asking me to be present for some hearing of an award at Mahindra & Mahindra financial services ltd, bombay. I never got any letters or notices from anyone regarding my vehicle loan in the past 6 years. after the payment of Rs. 4.5 lakhs initially, i didn't paid anything to him or m&m finance. It is to my surprise that if the vehicle was financed from m&m finance why did they kept on waiting for so long to ask for payment of installments... neither they issued any notices to me nor came to my house for the recovery of vehicle...
(i). what is this arbitrator proceedings and why?
(ii). I haven;t received any notices from anybody asking for the payment of installments or recovery of vehicle till date.
(iii), what would be the outcome of such proceedings?
(iii) what are my rights and my liabilities in such a case?
(iv) what are the rights and liabilities of the guarantor in such a case?
I request you all learned lawyers to please advise me urgently on this matter and suggest me the best remedial course.
Regards
Navneet
