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Vehicle Seizure by Third Party or Recovery Agents is Illegal
New Delhi (India), April 19: The Supreme Court of India has made it clear that third party or recovery agents have no authority to seize vehicles on the road or from private properties. This decision comes after several cases of harassment and illegal seizure of vehicles by recovery agents have been reported across the country. If […]
New Delhi (India), April 19: The Supreme Court of India has made it clear that third party or recovery agents have no authority to seize vehicles on the road or from private properties. This decision comes after several cases of harassment and illegal seizure of vehicles by recovery agents have been reported across the country.
If a person has taken a vehicle loan from a bank or NBFC company and is unable to repay the loan due to financial issues or other reasons, the bank has the legal right to take possession of the vehicle. However, they must follow the legal procedures and cannot resort to strong-arm tactics or use force to repossess the vehicle.
According to criminal lawyer Haziq Zaman, “Any type of threatening or misbehaving by the bank or third party is impermissible. Any person is free to take legal action against them. It is illegal for a money lender, financier or banker to take possession of the vehicle by force. This unlawful and unethical procedure is against public policy and also against the protection of public interest.”
