Repossession of New cars from registered defaulters by Banks

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40 Points Joined September 2019
you're. ... welcome.
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On 07 September 2019 at 23:18 Report
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40 Points Joined September 2019
you're. ... welcome.
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On 07 September 2019 at 23:18
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employee
814 Points Joined August 2011
Motor vehicle act is also not that clear on such repossessed cars.
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On 07 September 2019 at 23:52
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40 Points Joined September 2019
seems you are stuck completely with this.
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On 07 September 2019 at 23:53
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employee
814 Points Joined August 2011
Yeah.. unable to get one stop solution for this
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On 07 September 2019 at 23:53
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40 Points Joined September 2019
as mentioned above you can take two interpretations. one in rule 35 and other under 8/2018
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On 07 September 2019 at 23:54
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employee
814 Points Joined August 2011
But both will have future risk
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On 07 September 2019 at 23:54
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40 Points Joined September 2019
Instead of taking 8/2018 it would better go with rule 35
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On 07 September 2019 at 23:54
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employee
814 Points Joined August 2011
If any industry expert makes any comment on this that would be much helpful as there seems tough to interpret like this.
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On 07 September 2019 at 23:55
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40 Points Joined September 2019
yes do check with any one who is into such a business and facing the situation. But usually when banks repossess they transfer the RC from old customer to new customer. But here the case is pertaining to dealers
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On 07 September 2019 at 23:56
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employee
814 Points Joined August 2011
That's the struggle. Dealers don't take registration of the car and before that it has to be considered as new and not as Old.
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On 07 September 2019 at 23:57
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40 Points Joined September 2019
So this will close doors to notification 8/2018
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On 07 September 2019 at 23:57
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employee
814 Points Joined August 2011
So only way out is to break rule 35 nOw
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On 07 September 2019 at 23:58
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40 Points Joined September 2019
either rule 35 or you have to try AAr
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On 07 September 2019 at 23:58
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employee
814 Points Joined August 2011
AAR's are negative now a days
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On 07 September 2019 at 23:58
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40 Points Joined September 2019
So only way out rule 35 and yes you can representing it
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On 07 September 2019 at 23:59


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