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2012 (10) TMI 1168 - SC - Indian LawsAgreement of Hire Purchase - On Default of Loan Instalments Forcibly taken away the Vehicle from Lawful Possession - HC power in quashing of criminal proceeding - The respondent financers had forcibly taken away the vehicle financed by them and illegally deprived the petitioner from its lawful possession and thus, committed a crime. HELD THAT:- In an agreement of hire purchase, the purchaser remains merely a trustee/bailee on behalf of the financier/financial institution and ownership remains with the latter. Thus, in case the vehicle is seized by the financier, no criminal action can be taken against him as he is repossessing the goods owned by him. Therefore, The HC has rightly quashed the proceedings and no interference is required.
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