HDFC BANK LTD. Vs. STATE OF M.P.

JUDGEMENT

(1.) THE bank claims possession of the vehicle seized bearing No. MP -04 -CD -1830 registered against the respondent under section 420 IPC. The vehicle is lying in the police custody for the last five years. The respondent has no arrears of the loan amount to the bank.

(2.) ACCORDING to the petitioner the ownership of the vehicle is that of the bank and the respondent is a loanee and does not have perfect title. It is submitted that since the respondent is in default, the Bank is entitled to take possession of the vehicle. However, as the vehicle is in police custody, they cannot do so, though they are entitled to do so.

(3.) IN view of the aforesaid, the vehicle seized by the police bearing no. MP -04 -CD -1830 be given to the petitioner/bank on furnishing the Supurdginama in the sum of Rs. 2,00,000/ - to the satisfaction of the trial Court with an undertaking that they will produce the vehicle as and when required in this case.