Court asks ICICI Bank to return car to owner
A Delhi court has ordered ICICI Bank to release a loaned car to a man who was dispossesd of it despite paying the EMIs regularly and summoned its official to explain the statement of accounts.delhi Updated: Mar 06, 2009 19:44 IST
A Delhi court has ordered ICICI Bank to release a loaned car to a man who was dispossesd of it despite paying the EMIs regularly and summoned its official to explain the statement of accounts.
"Considering the payment made by the defendant (Arun John), Vishu Kumar Sharma, representative of the ICICI Bank who was appointed as receiver and who has repossessed the vehicle ..., is directed to release the Santro car to Arun John immediately on receiving/seeing the order," Senior Civil Judge Sandeep Yadav said.
The court also took note of alleged misrpresentation of facts by the Bank and ordered that its representative Sharma, who took back the car, "will not be appointed as receiver in any case in future."
"Let Prashant Saini, authorised representative of the plaintiff bank who sworn the affidavit on behalf of the ICICI Bank and verified the plaint, be summoned for explanation regarding the statement of accounts."
Earlier, the court had on February 17 allowed the receiver of the Bank to repossess the car from Arun Jhon, a resident of Badarpur here, by allowing the recovery petition which claimed Jhon did not pay EMIs since November 2008.
On being dispossessed of his car, Jhon approached the court through his counsel Suresh Sharma and showed the proof regarding the alleged outstanding loan amount against him.
The court, considering the payments made against the alleged loan amount, ordered that the car be returned to Jhon immediately.
The ICICI Bank had filed a recovery petition against Jhon claiming that over 2.32 lakh was outstanding against him and it be allowed to repossess the hypothecated car to realise the loan.