Financiers Cannot Seize Vehicles By Stealth Or Force: Supreme Court Rules Repossession Without Prior Notice Unlawful, Awards ₹10 Lakh Compensation

The Supreme Court of India, comprising a Bench of Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe, has ruled that financiers and non-banking financial companies (NBFCs) cannot forcibly repossess hypothecated vehicles without strictly adhering to procedural safeguards and prior notice requirements mandated by the Reserve Bank of India (RBI). Setting aside an Allahabad High Court

To Read More Please Subscribe to VIP Membership for Unlimited Access to All the Articles, Download Available Copies of Judgments/Order, Acess to Central/State Bare Acts, Advertisement Free Content, Access to More than 4000 Legal Drafts( Readymade Editable Formats of Suits, Petitions, Writs, Legal Notices, Divorce Petitions, 138 Notices, Bail Applications etc.) in Hindi and English.

Click to Subscribe

If you are already a VIP Member, Click to Login Now