VIKAS INVESTMENT COMPANY Vs. STATE

JUDGEMENT

(1.) This petition under Section 482 Cr.P.C. filed by M/s. Vikas Investment Company, petitioner, seeks setting aside of the order dated 16th September 1999 passed by a Metropolitan Magistrate and also the release of vehicle bearing registration No. DL IGA-0318 on superdari in its favour.

(2.) It is alleged that the petitioner carries on business of finance of vehicles on hire purchase and is the owner of vehicle bearing registration No. DL IGA 0318, a 1992 Model Tata (Tanker). This vehicle was given on hire purchase to Pritam Singh s/o Mahender Singh under an agreement dated 9th September 1996. Under that hire purchase agreement the hirer had undertaken to pay the amount of Rs. 2,68,000.00 at the rate of Rs. 11,200.00 per month in 24 instalments. The last instalment being in the sum of Rs. 10,400.00 . It is further alleged that one Shardha Nand Tyagi lodged FIR No. 1070/98 with PS Mangolpuri that said Pritam Singh had carried his stock of oil in said tanker which was found abandoned after misappropriating the stock of oil. Said vehicle was initially parked at PS Shivani in District Bhiwani (Haryana) but was brought in October 1998 to PS Mangolpuri, Delhi. It is also alleged that after waiting for a considerable time an application for release of said vehicle on superdari was filed by the petitioner on 28th August 1999 on which report was called from PS Mangolpuri by the Metropolitan Magistrate. HC Jai Prakash reported to the M.M. that said Pritam Singh has been declared proclaimed offender and the police have no objection if the vehicle is given on superdari to the petitioner. Only 10 instalments have been paid by now. Despite that the application of the petitioner was dismissed by the impugned order dated 16th September 1999. Alongwith the petition photostat copies of the agreement dated 9th September 1996 entered into in between the petitioner and aforesaid Pritam Singh, hirer, registration certificate issued by the Motor Licencing Officer, Delhi and statement of account pertaining to hirer have been filed.

(3.) It was urged by Sh. B.T. Singh appearing for the petitioner that the vehicle in question is lying idle for more than a year at PS Mangolpuri and there are chances of its being spoiled if the same is kept idle further. According to him under hire purchase agreement dated 9th September 1996 the petitioner continues to be the owner of vehicle and the impugned order declining to release the vehicle in favour of petitioner is legally erroneous. Strong reliance was placed on the decision in M/s. Shriram Transport Finance Co. Ltd. Vs. Shri R. Khaishiulla Khan and others, 1993 Cri.L.J. 1069.