Repossession of New cars from registered defaulters by Banks

Page no : 2
Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

you're. ... welcome.
Uttam

Uttam (employee) (814 Points)
Replied 07 September 2019

Motor vehicle act is also not that clear on such repossessed cars.

Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

seems you are stuck completely with this.

Uttam

Uttam (employee) (814 Points)
Replied 07 September 2019

Yeah.. unable to get one stop solution for this

Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

as mentioned above you can take two interpretations. one in rule 35 and other under 8/2018

Uttam

Uttam (employee) (814 Points)
Replied 07 September 2019

But both will have future risk

Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

Instead of taking 8/2018 it would better go with rule 35

Uttam

Uttam (employee) (814 Points)
Replied 07 September 2019

If any industry expert makes any comment on this that would be much helpful as there seems tough to interpret like this.

Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

yes do check with any one who is into such a business and facing the situation. But usually when banks repossess they transfer the RC from old customer to new customer. But here the case is pertaining to dealers

Uttam

Uttam (employee) (814 Points)
Replied 07 September 2019

That's the struggle. Dealers don't take registration of the car and before that it has to be considered as new and not as Old.

Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

So this will close doors to notification 8/2018

Uttam

Uttam (employee) (814 Points)
Replied 07 September 2019

So only way out is to break rule 35 nOw

Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

either rule 35 or you have to try AAr

Uttam

Uttam (employee) (814 Points)
Replied 07 September 2019

AAR's are negative now a days

Dasarath singh Rajpurohit

Dasarath singh Rajpurohit (40 Points)
Replied 07 September 2019

So only way out rule 35 and yes you can representing it


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

🤖 Summarize this with AI: 💬 ChatGPT 🔍 Perplexity 🤖 Claude 🔮 Google AI Mode 🐦 Grok

CCI Pro

Recent Topics


More recent discussions | Post

Related Threads


Loading

Popular Discussion


    Loading please wait

view more »


Start a New Discussion
CCI Pro
Meet our PRO Members
Subscribe to CAclubIndia Pro

Trending Online Classes

view all classess
Follow us

Subscribe to the latest topics :

Search Forum:

Forum Home
Popular Threads
Recent Posts
Unreplied Threads
Post New Topic
Settings