after rec possion but not singed agreement
Querist :
Anonymous
(Querist) 22 April 2010
This query is : Resolved
Respected Expert’s,
A Pravite finance Company finance Two Wheller to Individual person.
On Complite formalites finance company staff negalgancy in result not singed the borrower on agreement and not hypothecation on Registration certificate but borrower also given cheaque regarding payment.
On defultar company cheeking agreement & request to borrower to singed Hympthecation agreement but he not ready to singed.
What relif in Criminal law if not then what relif in civil law.
Warm Regard’s
Querist :
Anonymous
(Querist) 22 April 2010
Plese solved my problem
R.R. KRISHNAA
(Expert) 22 April 2010
As the client refuses to sign the hypothecation agreement, a notice can be issued that the loan amount financed will be cancelled within a period of 15 days and calling upon the person to pay back the amount or sign the hypothecation agreeement. If the person fails to comply you can file a suit for recovery of money.
The matter is purely a civil dispute and no relief under criminal law is available.
Querist :
Anonymous
(Querist) 22 April 2010
R R KRISHNAA SIR
Thank & Warm Regard,s
Querist :
Anonymous
(Querist) 22 April 2010
Whose Court power to hearing that type suit
If Company administrative office in Rajasthan & Borrower leave in Mumbai.
That possible file case at Rajasthan.
Raj Kumar Makkad
(Expert) 22 April 2010
In your matter, I cannot be agree with Krishana. How you can force a person to sign at this stage when he has failed to even pay EMI. His cheques have been bounced then file criminal case under section 138 NI Act. You shall have not to show the agreements mentioned by you.
Follow the procedure of 138 NI Act and do not think otherwise.
Querist :
Anonymous
(Querist) 23 April 2010
Sh Makkad Sir,
Respected Sir,
I Fully agree with you but Sh Krishnaa Sir given me Proper Guide for my usefull.
If finance company maintain proper agreement then prove easily that chaque given behalf on payment.
If not Possible then also have a Chaque and go under N I Act.
So Sh Krishnaa Sir Advise useful to myself.
With Tanks & Regard’s
Sh Makkad Sir,
Respected Sir,
I Fully agree with you but Sh Krishnaa Sir given me Proper Guide for my usefull.
If finance company maintain proper agreement then prove easily that chaque given behalf on payment.
If not Possible then also have a Chaque and go under N I Act.
So Sh Krishnaa Sir Advise useful to myself.
With Tanks & Regard’s
