Legal Question in Criminal Law in India

Seizure of vehicle

Can the financer seize the vehicle financed due to non payment of installments?


Asked on 11/08/08, 10:47 pm

6 Answers from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Seizure of vehicle

Depends on the terms of contract but generally yes

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Answered on 11/11/08, 6:13 am
Shrichand Nahar S.V.Nahar, Advocate

Re: Seizure of vehicle

Yes, by following due process.

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Answered on 11/09/08, 12:37 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Seizure of vehicle

In a recent Supreme Court judgement in the case of ICICI Bank, detailed guidelines for recovery of loan against vehicles have been provided.

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Answered on 11/09/08, 8:10 am
Nasir Butt Nasir Law Associates

Re: Seizure of vehicle

Financial Institution or Financer has right to repossess the vehicle financed upon default, but subject to adherence of due process of law.

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Answered on 11/09/08, 9:29 am
Yanala LaknaReddy Law towers

Re: Seizure of vehicle

He can, provided if it is purchased under Hire purchase. Otherwise, he has to go other legal formalities.

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Answered on 11/10/08, 7:43 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

Re: Seizure of vehicle

nowadays, he has to file a suit before the civil judge and the judge appoints a court commissioner to cease the vehicle. the bank on its own cannot seize the vehicle.

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Answered on 11/11/08, 12:27 am


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