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Repossession of New cars from registered defaulters by Banks

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Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

you're. ... welcome.


Uttam (employee) (814 Points)
Replied 07 September 2019

Motor vehicle act is also not that clear on such repossessed cars.

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

seems you are stuck completely with this.

Uttam (employee) (814 Points)
Replied 07 September 2019

Yeah.. unable to get one stop solution for this

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

as mentioned above you can take two interpretations. one in rule 35 and other under 8/2018



Uttam (employee) (814 Points)
Replied 07 September 2019

But both will have future risk

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

Instead of taking 8/2018 it would better go with rule 35

Uttam (employee) (814 Points)
Replied 07 September 2019

If any industry expert makes any comment on this that would be much helpful as there seems tough to interpret like this.

Dasarath singh Rajpurohit (40 Points)
Replied 07 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

Uttam (employee) (814 Points)
Replied 07 September 2019

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.



Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

So this will close doors to notification 8/2018

Uttam (employee) (814 Points)
Replied 07 September 2019

So only way out is to break rule 35 nOw

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

either rule 35 or you have to try AAr

Uttam (employee) (814 Points)
Replied 07 September 2019

AAR's are negative now a days



Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

So only way out rule 35 and yes you can representing it


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