Legal Question in Banking Law in India
Repossession
We filed 138 case for dishonour of cheque issued towards payment of EMI. Thereafter due to continous defaults vehicle repossessed. Are we required to withdraw the 138 case pending immediately after vehicle repossessed?
10 Answers from Attorneys
Re: Repossession
There is a direct judgement of a High Court on this issue in the year 2005. Kindly consult a local lawyer for the same.
Re: Repossession
If your account is settled, you may withdraw the case.
Re: Repossession
If your account is settled, you may withdraw the case.
Re: Repossession
If your account is settled, you may withdraw the case.
Re: Repossession
If your account is settled, you may withdraw the case.
Re: Repossession
If your account is settled, you may withdraw the case.
Re: Repossession
No Need to with draw Sec.138 case. If the amount is recovered by sale of the repossessed vehicle, then you can withdraw the case as no purpose will be served in continuing with the case.
Re: Repossession
No, you dont need to withdraw the 138 Case as those are sepetate proceedings.
But be ready for prosecution/consumer case if you have repossessed the car without a Court order.
Re: Repossession
depends on you if you don't want to withdraw then continue with the case. both proceedings are for different remedies.
Re: Repossession
there is no need to withdraw the case, repossession is different to that of section 138 case. A person is bound to pay the EMI, unless he proves that paid in lieu of the cheque amount
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