• 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
16576 Answers
153 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
26204 Answers
1425 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
19256 Answers
487 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
13230 Answers
281 Consultations
5.0 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3731 Answers
140 Consultations
4.9 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
3015 Answers
45 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
948 Answers
64 Consultations
5.0 on 5.0
Ajay N S
Advocate, Ernakulam
1994 Answers
23 Consultations
5.0 on 5.0
Thresiamma G. Mathew
Advocate, Mumbai
1353 Answers
93 Consultations
5.0 on 5.0
Shashidhar S. Sastry
Advocate, Bangalore
1283 Answers
66 Consultations
5.0 on 5.0