Information needed regarding legal procedure for repossesion of vehicle by financial institiution

**gsalvadi** · 10-07-2009, 08:31 PM

Sorry for a lengthy post;

I had purchased a Bajai Discover motor cycle at Palani-624 601, Tamil Nadu on 2008;
Vechicle registration details : TN 57 U 7260; At the time of registration the Bajaj Finance
retained the registration book and gave me a xerox copy.

My brother was using the vehicle at Chennai as it was purchased for him. We have been paying EMIs thru bank till there was
a dispute arised over the number of dues pending. The local dealer did not maintain proper records and wanted us to pay two
dues extra. I wanted statement from regional office and said I would pay dues once I got the statement.

(Recently I came to know that they have not been functioning at my local for past 14 months)

After three months one Mr. Ilayaraja, representing Balaji Finance, Dindigul regional office. Through him, I spoke to an
employee of Bajaj Finance, Dindigul. I was told that our local franchisee was terminated as he was not handling records of
Bajaj Finance properly. And further I was adviced to deal with Mr.Ilayaraja from that point.

Above said person came few times collected EMIs. Since last April, he did not visit us. As our local Bajaj dealer was a new person
he did not have any idea about the loan we have got.

From that point I did not receive any communication from Bajaj Finance.

On 11.09.2009, between 9:45AM and 10:30AM the vehicle was missing from my brother's office campus, MoserBear Entertainment Ltd,
81, Valluvar Kottam High Road, Nungampakkam, Chennai-34. My brother was about to file a police complaint.

After 8 hours my brother came to know that the vehicle was taken by some persons representing recovery agency of Bajaj Fianance.
When my brother went to Bajaj Finace Chennai, they had asked for Rs.30,000/-, where the pending due only Rs.17,500
They have not behaved respectfully.

1. We thought our vehicle was stolen and we wanted file a police complaint

2. We did not receive any notice, communication prior to the incident happened

3. When we spoke to them they wanted pay us more money including extra interest,penalties but they did not give any proper
account

4. I contacted a person at Bajaj Finance, Madurai. He told me that he would contact me. I have not received any call from
him till this time.

5. I just want to know whether they have a right to take my property without giving me prior intimation

6. The incident has spoiled the reputation of my brother, who is working in Moserbear.

What is the right procedure for a financial institution to do this.

Thanks,
Gokul

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**ambrish.p** · 10-07-2009, 08:52 PM

Sponsorer

Dear Gokul

Please read: How to manage consumer problem - Big Helpers Community

And also see: Big Helpers Community - Right To Justice

Do file police complaint , if they dont take action u can file RTI application seeking action taken report on your complaint.

regards

**gsalvadi** · 10-07-2009, 08:56 PM

Ambrish,

Thanks for your reply.

1. Police is in nexus with them, not ready to take complaint

2. I have filed a complaint in consumer forum, though I am yet to know it's status, or do I need some serious action?

Thanks in advance

**wehelp** · 10-07-2009, 09:03 PM

If the police is not ready to take the complaint send your complaint through register post with ack due and keep the receipt safe

**gsalvadi** · 10-07-2009, 09:09 PM

Originally Posted by wehelp

If the police is not ready to take the complaint send your complaint through register post with ack due and keep the receipt safe

Sure. I will.