Legal Question in Civil Rights Law in India

i had been already cleared about my doubt relating to the insurance financier and the insurer in this matter financier is the owner of the vehicle as the vehicle as it has been financed by the recognized company my doubt is right now what steps and procedure in law should i must go for to get back the half of the money which was financed by my company aand the insurance has already released the rest of the amount of money to the insurer without paying or getting us informed about the money and how should i get my rest of the amount which my company has financed to the owner of the vehicle.In this there are the owner of the vehicle, financier which is my recognized company (also the owner as there has been some debt amount which has to be paid back by the owner of the vehicle) and the insurance .


Asked on 8/25/13, 10:33 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

26.08.2013

Dear Sir / Madam,

The Insurance Company has entered into a contract with the insured, it owes allegiance to the insured only. Although you have financed the insured, the Insurance company cannot overlook the insured and pay you the money. Simply because, the Insurance company has not entered into any contract with you as the financing company. You have to initiate and pursue recovery proceedings of your debt from the Owner of the vehicle, who has obtained finance from your Company and not against the Insurance Company.

Regards,

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Answered on 8/25/13, 11:20 pm


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