Please help me out:-
A party arrived to me for sale of a Goods vehicle.The Vehicle is under hypothecation of Tata Finance Ltd.The party was paying EMI of Rs.10000/- .A huge dues against above loan is due with Tata finance Ltd.Now he is unable to make the payment of the said EMI and wants to enter in a sale agreement with me for the sale of above vehicle on the condition that i will pay the future EMIs.
Now the question is whether it is possible to enter into a sale aggrement with him?
If answer to the above question is yes then what is the proceddure?
What communications or order are required from TATA finance Ltd ?
What are the risks involved if i enter into agreement without intimitading TATA finance Ltd and whether this agreement without NOC of Tata FInance limited is a valid agreement?
CAclubindia
