JUDHISTHIR JENA Vs. BM, INDUSIND BANK, GANJAM

JUDGEMENT

(1.) Mr. Tripathy, learned advocate appears on behalf of petitioner. He submits, impugned is presale intimation dtd. 16/4/2021, on subject matter of loan agreement regarding vehicle bearing registration no.OD07AD/9669. He submits, loanee was insured with opposite party nos. 3 and 4. The policy covered repayment of the loan on happening of, inter alia, contingency of death of the insured. The insured died. Yet the bank wants to sell the hypothecated vehicle. Hence, prayer for relief to quash the presale intimation and release the vehicle to petitioner, who is husband of the deceased.

(2.) Mr. Mishra, learned advocate appears on behalf of opposite party-Bank and submits, the loan remains outstanding. As per terms and conditions, the vehicle was taken possession of and there should not be restraint on selling it to recover the outstanding form the proceeds. Also his client be at liberty take further steps, in case there is deficit recovery. He submits further, the insurance company had repudiated the claim.

(3.) Mr. Mohanty, learned advocate appears on behalf of the insurance company and submits, on investigation made under sec. 45 of Insurance Act, 1938, his client discovered that the insured died on 6/1/2020. This discovery was made on information recorded in the Aganwadi Centre. He relies on sec. 16 in Evidence Act, 1872 to submit, the information stood recorded in regular course of business of the Centre and, therefore, the record of information is a relevant fact. He submits further, on such discovery the premium amount was returned to the bank.