INDIA LEASE DEVELOPMENT LTD Vs. SAVITA

JUDGEMENT

(1.) THE Appellant India Lease Development Ltd. impugns a judgment dated 04.01.2011 whereby a compensation of Rs.7,41,000/ - was awarded in favour of Respondents No.1 to 5.

(2.) THE contentions raised on behalf of the Appellant are:

(3.) A bare reading of the provision shows that in relation to a motor vehicle which is the subject of an agreement of lease or an agreement of hypothecation etc., the person in possession of the vehicle under that agreement would deem to be the owner of the vehicle. The Appellant proved on record an Agreement of Lease Ex.R4W1/2, through its authorized representative Yogesh Kumar, which was valid for a period of two years. Yogesh Kumar testified that the Seventh Respondent(Anil Kumar) defaulted in payment of installments and ultimately made payment of all outstanding lease charges and approached the Appellant for transfer of the vehicle in the records of the registering authority in his name. He deposed that the Appellant issued a sale letter dated 16.08.1995, also signed Form 29 and 30 and recorded the transfer of ownership of the motor vehicle as per the Motor Vehicles Act. He deposed that the Seventh Respondent (Anil Kumar) assured the Appellant that he would take necessary steps for effecting transfer of the vehicle in the records of the registering authority. Thus, it is evident that the lease agreement was no longer subsisting between the Appellant and the Seventh Respondent. Admittedly, the vehicle stood registered in Appellant's name. Even if it is assumed that the Appellant executed documents for transfer of the vehicle, yet no information was sent to the registering authority within a period of 14 days as provided under Section 50 of the Act. Section 50 (i) is extracted hereunder: