RAKESH ARORA Vs. METRO MOTORS

JUDGEMENT

(1.) LEARNED counsel appearing on behalf of the petitioner has produced before me the certificate of registration issued by the Licensing Authority, Naraingarh showing that the vehicle No HR-04-6867 was registered in the name of Kuldeep Singh son of Sohan Singh, 269, Jyoti Nagar, Jallandhar District Jallandhar as owner. There is no indication in the certificate of registration that the vehicle had been financed by M/s. Tata Finance Limited or the same was sold to Kuldeep Singh on hire-purchase basis. There is also no indication that there was any charge by Tata Finance Limited on the vehicle. Counsel appearing on behalf of the petitioner has also produced before me the original certificate of registration vide which the vehicle was transferred in his name when the same was sold to him by Kuldeep Singh. The said certificate clearly shows that the petitioner, on purchase from Kuldip Singh, had got the same re-financed from Fine Deal Finance Co., New Delhi.

(2.) IN this petition, the grievance of the petitioner is in regard to action of Tata Finance Limited whereby they had taken the vehicle forcibly from the petitioner. The prayer of the petitioner is that a direction be given to Tata Finance Limited to hand over the vehicle to him.

(3.) CONSIDERING the case of the petitioner that he is a bona fide purchaser for valuable consideration of the vehicle and is entitled to retain the same and now the vehicle has been sold without obtaining permission of the Court, it would be in the fitness of things if Tata Finance Limited is directed to furnish bank guarantee the sum of Rs. 4,00,000/- to the trial Court within a period of two months failing which its defence shall be struck off. It is so ordered. The bank guarantee shall remain valid till such time the suit is decided by the trial Court.