Finance company seize vehicle & sell in auction & ask for balance cash

My question was my dad make finance agriment with shriram finance for tata ace, after paying some emi he can't make to pay some instalment s so they seized our vehicle in 2012 ...After they sold it in auction....After 4 years they gave notices for my dad for balance amount....Is there any suggestions for mee

Answers (1)

280 votes

The shriram finance company has the rights to sue against your father for balance payment. At the time agreement , most of the people don't read the terms and conditions.
I think your father also don't know the terms and conditions.
1. The finance company has rights to sue against your father.
2. Your father has to give reply to the company immediately.
3.There is an option for one time settlement with the finance company.
It depends on the case status and management of the finance company.

If you have any query , contact me .

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers

Advocate Bala Janaki
330 Thambuchetty Street, Chennai
36 years Experience
Advocate Kapil Chandna
Patiala House Court, Delhi
9 years Experience
Advocate Kapil Chandna
Patiala House Court, Delhi
9 years Experience
Advocate Ravi Jadhav
Koregaon Park, Pune
13 years Experience
Report abuse?

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Banking / Finance Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Related Questions

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Related Articles