INDIA LEASE DEVELOPMENT LTD Vs. SAVITA

JUDGEMENT

(1.) APPELLANT India Lease Development Ltd. impugns a judgment dated 4.1.2011 whereby a compensation of Rs. 7,41,000 was awarded in favour of respondent Nos. 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 be deemed to be the owner of the vehicle. The appellant proved on record an agreement of lease, Exh. R4W 1/2, through its authorised representative Yogesh Kumar, which was valid for a period of two years. Yogesh Kumar testified that respondent No. 7 (Anil Kumar) defaulted in payment of instalments 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 appellant issued a sale letter dated 16.8.1995, also signed Forms 29 and 30 and recorded the transfer of ownership of the motor vehicle as per the Motor Vehicles Act. He deposed that respondent No. 7 (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 respondent No. 7. 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: