… („Magma” in short) is a financial institution that is involved in providing funds for the purchase of machinery and other assets through the purchase of leased property. Smt Potluri Madhavilata, interviewees 1 (hereafter … Purchase from Magma for the purchase of a motor vehicle (Bolero Camper AP 16 TV 1263) on 31-1-2005. Under the terms of the lease… The tenant was required to pay the rental purchase price in 46 installments. It appears that the tenant committed late payments in the payment of a few payments and, as a result, the magma confiscated the vehicle in question by the tenant on 6-8-2005. Magma too… 1. special leave.
2. It is clear from the fundamental facts that the applicant had given Defendant 1 a financial opportunity on the basis of a lease-sale for the acquisition of a first member of the Commission-… on both points. Indeed, the complainant`s assertion that she has a right of possession under the lease-sale, that is, after the readmission clause, was indeed prima facie… the lease and the charge of theft was not proven, he should have realized that the tenant had abused the forum instead of initiating civil proceedings and should not… criminal proceedings pending before the qualified magistrate. On the contrary, the Qualified Council, appearing on behalf of the respondents, argued that, under the lease-sale agreement, the… with respect to the lease-sale agreement, payment of payments was delayed. The financier had been the subject of criminal proceedings…
Civil character, even if the complainant`s allegations were essentially accurate. As part of the lease, the financier had made the payment of the huge money and he was indeed the… Judges D. Y. Chandrachud and Indira Banerjee heard a complaint from Magma Fincorp Ltd, the financier, against the national commission`s mission, which ordered the financier to pay 2.23,335 balances to the complainant, as well as interest of 10 per cent per annum and Rs 10,000 for the repossement of the rented vehicle in the event of the complainant`s non-payment to the council. … who heard the case may have reached a conclusion that the High Court would not have reached.5. In this case, the dispute between the parties arises within the framework of a lease-sale agreement. That`s right.
The judge conducted the hearing on a regular basis, and he reached a certain conclusion on the construction of the lease-sale, and the rights of the parties. I wonder if that is it. „As part of the lease-sale agreement, it is the financier, who is the owner of the vehicle and the person who takes the loan, the vehicle retains the vehicle only as a bailee/trustee, therefore in possession of the vehicle on the basis of non-payment of payments has always been considered a legal right of the financier „It is observed that „the owner again in possession of the vehicle delivered to the tenant under the rental contract will not be synonymous with theft, because the essential element of „the intention of dishonor”