https://www.taxtmi.com/caselaws?id=109419 A hire purchase arrangement was upheld where the contractual documents described one party as owner and the other as hirer, and the surrounding agreements consistently reflected that substance; invoices in the respondent's name did not alter the true character of the transaction, and the respondent was precluded by its conduct from denying that position. Because title in hire purchase goods remains with the owner until the contractual payments are completed, pendency of proceedings under the Sick Industrial Companies (Special Provisions) Act, 1985 did not protect the machinery from repossession. The statutory stay was confined to the sick company's property, so seizure and injunction were granted in favour of the petitioner. en-us Fri, 12 Sep 2003 00:00:00 +0530 Thu, 16 Jan 2014 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109419 A hire purchase arrangement was upheld where the contractual documents described one party as owner and the other as hirer, and the surrounding agreements consistently reflected that substance; invoices in the respondent's name did not alter the true character of the transaction, and the respondent was precluded by its conduct from denying that position. Because title in hire purchase goods remains with the owner until the contractual payments are completed, pendency of proceedings under the Sick Industrial Companies (Special Provisions) Act, 1985 did not protect the machinery from repossession. The statutory stay was confined to the sick company's property, so seizure and injunction were granted in favour of the petitioner. Case-Laws Companies Law Fri, 12 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109419