• Accident Liability in Case of Hypothecated Vehicle

Hello,

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

T Kalaiselvan
Advocate, Vellore
14056 Answers
127 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
23267 Answers
1219 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18151 Answers
448 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12113 Answers
231 Consultations
5.0 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3534 Answers
130 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
868 Answers
43 Consultations
5.0 on 5.0
Atulay Nehra
Advocate, Noida
436 Answers
15 Consultations
4.7 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2752 Answers
41 Consultations
4.9 on 5.0
Ajay N S
Advocate, Ernakulam
1916 Answers
19 Consultations
5.0 on 5.0
S J Mathew
Advocate, Mumbai
1950 Answers
65 Consultations
5.0 on 5.0