P X ALEXANDER S/O XAVIER, V H M RAFEEQUE Vs. REGIONAL TRANSPORT AUTHORITY; MANAGER, CANARA BANK, SECRETARY

JUDGEMENT

(1.) Second petitioner who is the registered owner of a stage carriage bearing registration No. KL 07K -6199 sold the same to the 1st petitioner who claims to be in possession of the said vehicle. Stage carriage is covered by a valid permit. Second petitioner had availed of hypothecation facility from the 2nd respondent and he was remitting the hire purchase instalments . Instalments were still due at the time of transfer in favour of the 1st petitioner. According to the petitioners, on receipt of intimation from the bank that the total amount due under the account is 2,26,981/-, the said amount was remitted as evidenced by Exhibit- P2. The owner of the vehicle, the 1st petitioner then requested the 2nd respondent for a No Objection Certificate for cancellation of the hire purchase endorsement in the RC Book. This has not been given and hence the writ petition for appropriate direction to 2nd respondent.

(2.) A statement has been filed by the 2nd respondent. Paragraphs 3, 4 and 5 read as follows:

(3.) The 2nd petitioner submitted a sale agreement on stamped paper stating that he has sold his vehicle KL5A 3637 with pucca permit to C.N.Shiju on 19.12.2005 for Rs. 5 lakhs based on which Bank sanctioned Rs. 1 lakh working capital loan to Shiju on 28.12.2005 as recommended by the Private Bus Operators Association. A copy of the permit No. 7/101/1998 was also produced along with loan application.