Wednesday, November 16, 2011
"Recovery of vehicle to be effected in due process of law and not by use of force" - SC
The Supreme Court of India, recently reiterated again the principles of laws, particularly in the decision, rendered in ICICI Bank Ltd. Vs. Prakash Kaur (supra),in respect of the recovery of hire-purchased vehicle by the Bank from the defaulters of loan yesterday, while disposing off Civil Appeal No.9711 of 2011 in the matters of the appellants CITICORP. MARUTI FINANCE LTD, that " It is, necessary for us to go into the said question all over again and we reiterate the earlier view taken that even in case of mortgaged goods subject to Hire-Purchase Agreements, the recovery process has to be in accordance with law and the recovery process referred to in the Agreements also contemplates such recovery to be effected in due process of law and not by use of force. Till such time as the ownership is not transferred to the purchaser, the hirer normally continues to be the owner of the goods, but that does not entitle him on the strength of the agreement to take back possession of the vehicle by use of force.The guidelines which had been laid down by the Reserve Bank of India as well as the Appellant Bank itself, in fact, support and make a virtue of such conduct. If any action is taken for recovery in violation of such guidelines or the principles as laid down by this Court, such an action cannot but be struck down. This is again a landmark ruling of our Apex Court, against any such forceful controversial action, carried out by any such bank for the recovery of any kinds of the hire-purchased vehicles from any such the borrowers in default
Popular Posts on our Law Office Blogs
" If the land owners are not paid and compensated within two years after the declaration of the acquisition of the proposed land, the w...
While adjudicating **Pinakin Rawal v/s State of Gujarat CR.APPEAL NO.811/2004]****the Hon'ble Supreme Court has observed in its landmark...
Powered by www.kartikey.com ::::: A Law Office of India, pioneering the online concept of free legal aid and laws consultation through E-L...
Before passing Order of detention under PASA act, the detaining authority must come to a definite finding that there is threat to the “public order”While applying the ratio, laid down by the Hon. Supreme Court, in the case of Ashokbhai Jivraj @ Jivabhai Solanki v. Police Commissioner, Su...
Vidhya Sahayak for teachers, Lok Rakshak for police and Gram Mitra in rural administration are "Gujarat State Sponsored Financial Exploitation"A division bench of the Gujarat High Court, comprising Acting Chief Justice Bhaskar Bhattacharya and Justice J B Pardiwala, has observed las...
On the eve of Dipavali...it is a rising of a new dawn...with a hope of a happy and prosperous New year, We extend our cordial wishes to all ...
Would it not be a discrimination by conferring different forums in different states for trials of certain same Offences under IPC ??Why does there exist typical difference in respect of forum for trial of certain offences like those under sections 326, 409, 466, 467, 468,...
Recently, the Supreme Court of India has pronounced a landmark judgment, while adjudicating and dismissing writ petition lodged by Bar Coun...
While exercising Criminal Appellant Jurisdiction in the matters of CRIMINAL APPEAL NO.305 OF 2013,moved by appellants Mr. Surender Kaushik a...
Recently yesterday, the Hon'ble Apex Court of India has reconfirmed the Rules and Laws about the Admissions of a party while adjudicatin...
Law Blog Archive
- October (1)
- September (6)
- August (7)
- July (8)
- June (4)
- May (7)
- April (8)
- March (9)
- February (9)
- January (6)
- December (9)
- November (4)
- October (3)
- September (5)
- August (11)
- July (2)
- June (1)
- February (2)