BINOD TATER Vs. VEERABADRA

JUDGEMENT

(1.) The point involved for consideration in this case is, as to whether a financier can repossess a vehicle based on an agreement between financier and borrower?

(2.) Heard Shri S.R.Hegde Hudlamane, learned Advocate for the petitioner and Smt.Neeraja Karanth, learned Advocate for respondent No.2.

(3.) Briefly stated the facts of the case are, petitioner borrowed a sum of Rs.18,00,000/- from M/s Mahindra & Mahindra Financial Service Ltd., to purchase a goods vehicle agreeing to pay monthly installment of Rs.50,000/- as per the loan agreement.