K MADHU Vs. DURGA FINANCE INDIA LTD

JUDGEMENT

(1.) THESE applications are filed by one C. T. Faisal. The prayer in these petitions is to declare the transaction between the respondent company, the company in liquidation and Kunhammad in connection with the vehicle KL 11 D 9390 as a loan transaction and not one of lease of the vehicle (C. A. No. 749 of 2003); to declare that the respondent company was not entitled to claim or get anything more than a sum of Rs. 4,00,000/- advanced as a loan with interest 15. 5% per annum (C. A. No. 750 of 2003); to direct the respondents to issue H. P. Termination form to the applicant in respect of the vehicle KL 11d 9390 (C. A. No. 751 of 2003); and to direct the respondents to refund to the applicant the sum of Rs. 50,683/- with subsequent interest at 15. 5% per annum till payment (C. A. No. 752 of 2003 ).

(2.) THE contentions in these applications is as follows: THE applicant herein is the owner of Ashok Leyland but with Chassis No. MYGO31224 and Engine No. MYE233584 bearing Registration No. KL 11 d 9390. He had purchased the same from M. Kunhammad, Kozhikode District, paying a sum of Rs. 3,60,000/- to him. It is stated that the applicant is running a public transport service in the Kariyad Kannur route.

(3.) IT is stated that as required by the local agent of the respondent company, several forms and few sheets of blank papers were signed and given by the said Kunhammad. The applicant had also obtained the road permit. The insurance was taken in the name of Kunhammad.