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car seized by bank
01-May-2023 (In Consumer Court Law)
I purchased a car from a company. The company has not paid the bank as the car was hypothicated to bank.I was assured of transfer by paying up the bank. I have been following up for 1 years and am informed today the car will be seized by the banks. I have all documentation evidence. what is the process I should follow.
Give a legal notice to the company stating that the company had cheated you by giving a car which was hypothecated to the bank. File a criminal complaint or FIR against the company under section 420 IPC STATING THAT THE COMPANY HAD CHEATED YOU. The above might help you in getting your money back, but as far as the bank is concerned there is not much which can be done for stopping the possession of the car.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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