Vehicle finance -- Repossession of vehicle for nonpayment of installments - OP Bank had gone through the proper procedure with regard to the repossession of the vehicle due to default in payment of installments - There is no deficiency on the part of OP - The complainant had failed to establish her case that the vehicle had been forcibly repossessed - Vehicle purchased for..........
Vehicle finance -- Forcible repossession - Even before the expiry of last date mentioned in notice for default of allegedly two instalments - Scooter remained in the possession of appellants - OP for 13 days and damaged because of mishandling by the employees of the appellants - Appellants rightly held liable to pay the amount of Rs. 3150/ - spent by complainant respondent..........
Vehicle finance -- Default in payment of EMIs - Repossession of vehicle without notice - No evidence to prove that it was done using force - Complainant had been given a due notice after repossession of the vehicle that in case he did not pay up the dues, the car would be sold but complainant never approached OPs to clear the dues - Car sold and sale proceeds credited in..........
Vehicle finance -- Forcible repossession of vehicle - Notice given after repossession of vehicle without giving an opportunity to the complainant to pay the dues prior to repossession - Held to be an act of deficiency in service committed by OP - Since the complainant already used the vehicle for few months so he is entitled to only an amount of Rs. 25,000/ - and not Rs...........
Vehicle finance -- Hire purchase agreement - Forcible repossession of vehicle - Held that to take possession of the vehicle by use of force cannot be justified - Respondent used the vehicle for two three months and the vehicle was seized from the complainant and auctioned and sold unjustifiably at low price - Order passed by the State Commission directing the appellant to..........
Consumer Protection Act, 1986, Section 2(1)(r) , 14(1)(d) -- Banking service - Unfair trade practice - Compensation - Vehicle finance - Motor cycle - Repossession of vehicle - For non payment of two instalments - No notice issued prior to repossession and sale of the vehicle - Presented two post - dated cheques after the repossession of the vehicle - Held to be deficiency..........
Consumer Protection Act, 1986, Section 2(1),(g) -- Vehicle finance - Delay in payment of instalment - Repossession of the vehicle held to be in order - The award of compensation and cost in these circumstances does not stand to scrutiny and liable to be set aside - Since there was error in refunding the amount direction to return the money by the complainant to the..........
Vehicle finance -- Repossession for non deposit of EMI and sold in auction - Vehicle used for 16 months by complainant - Depreciation @ 20% allowed under Income Tax Act adopted - The value of the vehicle would have been Rs. 1,92,000/- Petitioner has already recovered Rs. 1,49,502/- as also recovered Rs. 85,000/- in the form of EMIs from the complainant - Margin money of..........
Hire Purchase Agreement -- Default in repayment of loan - Financier has no right of seizure/repossession of vehicle notwithstanding stipulations to that effect in the agreement/contract between the parties...........
Vehicle finance -- Repossession of vehicle by use of force by financier, for which loan has been given by it - Held that this is unlawful and unethical procedure - It can be said to be against public policy and also against the protection of public interest...........
