2006 (2) TMI 625

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....:               Under a Hire Purchase Agreement executed between the appellant (hereinafter referred to as the 'Financier') and the respondent no.1 (hereinafter referred to as 'Hirer') possession of truck No.HR-46-C-3689 was handed over to the hirer subject to compliance of the terms and conditions of the agreement. As per the terms and conditions stipulated in the agreement, the hirer was to repay the total financed amount of Rs. 9,24,000/- in 33 monthly instalments of Rs. 28,000/- each. As per the agreement the first instalment was payable on 25.10.2000 and the last instalment was payable on 25.6.2003. In case of default in making payment of the monthly instalment the hir....

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....o keep or cause the vehicle comprehensively insured during the period of the Agreement;          g. fail to indemnify the Owner, the Insurance premium paid by the Owner, resulting from the Hirer's failure to keep the insurance effective at any point of time during the currency of this Hire Agreement.          h. fail to pay to the Government or any public authority any tax or surcharge or other levies due in respect of the vehicle;          i. remove the vehicle to another State and get it re-registered there;          j. break or fail to perform or observe any of the con....

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.... The hirer did not make any payment and on the other hand made a false complaint to the Reserve Bank of India (in short 'RBI'), and filed a civil suit in the Court of Civil Judge, Senior Division, Sonepat for declaration with consequential reliefs and permanent injunction along with mandatory injunction. In the said civil suit the hirer also filed application under Order XXXIX Rules 1 & 2 read with Section 151 of the Code praying for interim relief. On receipt of the summons, written statement was filed by the appellant. The matter was taken up 13.9.2002. A prayer was made for an adjournment of the date as learned counsel for the appellant had met with an accident. The matter was adjourned for arguments on the said application on 27.9.2002.....

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....pposite party-respondent depositing Rs. 2,50,000/- with the Registry of this Court within four weeks without prejudice to the claims involved. Admittedly the amount has been deposited. So far as the question of re-possession is concerned, it is clearly permissible in terms of Clause 10 of the Hire purchase agreement referred to above. What ultimately is to be decided by the Trial Court in the suit is the amount to which the appellant is entitled to. Learned counsel for the appellant has submitted that without taking note of the defaulted amount which according to him is in the neighbourhood of Rs. 10 lakhs, the vehicle was directed to be released on payment of the defaulted instalments. The said amount has also been deposited. But at ....