• Accident Liability in Case of Hypothecated Vehicle


I had purchased a vehicle under hypothecation from ICICI bank. The vehicle was repossessed by the bank and it was later sold by the bank to a third party. 

A few days ago I was informed that the vehicle was involved in a fatal accident and I have been named as the owner as it seems that the bank authorities did not carry out the proper ownership transfer paperwork when reselling the vehicle. 

Do I have a liability in this case?
Asked 3 years ago in Civil Law from New Delhi, Delhi
Yes, you are liable unless you can prove the fact of bank's taking possession of the vehicle and sale of same, before the accident.
Prabhat Shroff
Advocate, Kolkata
141 Answers
39 Consultations
3.8 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Civil Lawyers

Ajay Sethi
Advocate, Mumbai
21711 Answers
1132 Consultations
5.0 on 5.0
T Kalaiselvan
Advocate, Vellore
12626 Answers
120 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
17432 Answers
425 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
11325 Answers
206 Consultations
5.0 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3343 Answers
123 Consultations
4.8 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2635 Answers
38 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
822 Answers
36 Consultations
5.0 on 5.0
Ajay N S
Advocate, Ernakulam
1847 Answers
18 Consultations
5.0 on 5.0
S J Mathew
Advocate, Mumbai
1933 Answers
61 Consultations
5.0 on 5.0
Thresiamma G. Mathew
Advocate, Mumbai
1275 Answers
82 Consultations
5.0 on 5.0