HDFC BANK LIMITED Vs. GANPATRAM

JUDGEMENT

(1.) This writ petition under Article 226 of the Constitution of India has been preferred claiming the following reliefs:

(2.) As the pleaded facts would reveal, in the year 2015, one Mr. Gopal Ram approached the petitioner-Bank to obtain a loan for purchasing a vehicle bearing model name TATA 4018 (after purchase, registered as RJ 07 GC 2551). In connection with the same, a loan agreement dtd. 13/3/2015 was entered into between the petitioner-Bank and Mr. Gopal Ram, whereby the aforementioned vehicle was hypothecated in favour of petitionerBank. It was specifically agreed under the agreement that in the event of failing to pay the stipulated monthly installments within the prescribed time or in the event of default, the agreement would be terminated, and Mr. Gopal Ram would be liable to hand over the possession of the vehicle to the petitioner-Bank and pay all the installments alongwith all other charges due as per the terms of the agreement. As per the averments made in the petition, since Mr. Gopal Ram made persistent defaults with regard to payment of the installments, the petitioner-Bank became entitled to possession of the vehicle; accordingly, the possession of the vehicle was taken over by the petitioner-Bank.

(3.) Learned counsel appearing for the petitioner-Bank submitted that the vehicle in question was sold on 'AS IS WHERE IS' basis and under the deed of indemnity executed by the respondent, it was his duty to get the vehicle registered with the concerned registering authority.