Did not pay 4 EMI but now paying regularly but now car seized by bank
20-Oct-2023 (In Recovery Law)
I have a car and and dont 4 emi in 2015 and from that i am paying regularly. But last week in rajasthan went to Salasar balaji dham with family and my car was sized by company forcefully. I want to guideline or knowledge is there any law by which i can sue to that company . Bez it was very horrible for us and family to come home from unknown place and faced that incident.
You have not mentioned in your query as to whether the Company has given you any seizure memo to this effect ? If not this is a criminal act on the part of the company and an FIR can be lodged in this regard. However, even if the company has given you receipt to this effect, you can challenge it before the court under appropriate proceedings.
Vehicle seizing Rules India
Supreme Court judgement on seized vehicles
procedure for seizure of hypothecated vehicle
Vehicle seizing procedure by finance company
Vehicle seizure procedure by bank
RBI guidelines for vehicle seizure
RBI guidelines for vehicle seizure in Hindi
Vehicle seizure notice by Bank format
Vehicle seizure notice format
Seizure of vehicle under SARFAESI Act
Sir, you have the option of filing a criminal complaint against the persons who forcibly took away your car. In case the police fail to act on your complaint you can approach the courts seeking the registration of an FIR and investigation into the matter
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