Possession of my car by a financier

Querist : Anonymous (Querist) 09 September 2022 This query is : Resolved
I borrowed money in a medical emergency situation from a private financier. I gave my New Hyundai Verna car to him and He gave me Rs. 2 lakhs as loan In cash mode on 01.12.2019. There is no written agreement for this transaction. Interest rate is 8 percent per month. I paid interest for three months on time. After that I couldn't pay money. On January 2022, he threatened me to settle Rs.6 lakhs. I complaint in local police station but they told me to settle the money. I told police that he doesn't have any rights to keep my car. But police did not support me. I told police that I am ready to settle 2 lakhs along with bank interest. But the financier didn't agree, in front of police he asked me Rs.6lakhs. I told police that I cannot give Kanthu vaddi. I finally told police that I will put case in court and recover my car. I wrote a letter and gave to police, he closed the complaint and gave me CSR copy. How to recover my car from him? What is the law regarding this situation? Pls guide me.

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kavksatyanarayana (Expert) 09 September 2022
He gave you Rs.200000/- in dire need. But you have not paid the amount. So he is demanding more money from you. And even you did not pay the interest also. If you file a case against him, he will also put a case against you for the recovery of money. So amicably settle the issue.

Querist : Anonymous (Querist) 10 September 2022
Sir amicable settlement tried so many times and failed. What is the legal remedy to recover my car from him. I feel he is doing everything illegally. Threatening is illegal. Asking kanthu vaddi is illegal. If he wants his money then he can file case against me. But he is fully illegal. Tats why I m asking how to recover my car legally. What is the remedy for that?

Dr J C Vashista (Expert) 11 September 2022
Settle loan amount amicably dealing it separately / independently to possession of car.
Since you are the registered owner of car, which is not hypothecated with financier, he (financier) has no right, claim or interest in the Car.
Accordingly you should claim it (car) back by filing a suit through a local prudent lawyer seeking a permanent and mandatory injunction .

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