SREI Equipment Finance Limited vs State Of Jharkhand And Ors

This case is taken up through video conferencing.

The present writ petition has been filed for issuance of direction upon the respondent no.1 to transfer the registration of Tipper (Manufacturer-

Mahindra & Mahindra), registered in the name of SREI Equipment Finance Limited bearing Registration No.JH-05BX 9930, Engine No.VAHZF 15-

186, Model no.MTS Blazo 25 6E1 B4 4250D, in favour of the purchaser of the said vehicle i.e. Shivaji Pandurang Shinde- respondent no.3.

Learned counsel for the petitioner submits that the petitioner is a non-banking finance company dealing in financing/providing financial assistance

towards purchasing of infrastructure and heavy commercial construction equipment/machines/vehicles to the needy customers/loanees. It is further

submitted that one Nishant Mitra (hereinafter to be referred as 'borrower') approached the petitioner- Company for obtaining loan of Rs.25,93,721/-

for purchasing the said vehicle, which was sanctioned to the borrower. The said borrower deliberately defaulted in making payment of the loan and as

such the petitioner-Company put the said vehicle on public auction, which was purchased by the respondent no.3 through e-auction on 28th February,

2019. However, the borrower lodged a criminal case against the petitioner-Company and his officials being Bistupur P.S. Case no.183 of 2019 dated

25th June, 2019 under Sections 420 and 34 of the Indian Penal Code, in which, after investigation, the police submitted Final Form no.261 of 2019

dated 22nd September, 2019, finding the said case to be a civil dispute. It is further submitted that the purchaser of the said vehicle applied for its

transfer in his name along with Form- 29 & 30, original R.C. Book, sellers consent letter, copies of insurance policy as well as receipts relating to

payment of tax in the office of the respondent no.1 on 12th April, 2019.

The grievance of the petitioner is that till date the respondent no.1 has not transferred the said vehicle in favour of the purchaser, due to which the

petitioner-Company is facing difficulty, as the possession of the said vehicle is with the said purchaser and if any mishappening takes place, the

petitioner-Company would unnecessarily be put in legal complication.

Having heard learned counsel for the parties and keeping in view the nature of the prayer made in the writ petition, without entering into the merit of

the case, the respondent no.1 is directed to verify as to whether the application as claimed by the petitioner has been filed in his office and if the same

is found to have been filed, an appropriate decision on the same shall be taken by the said respondent without any further delay preferably within a

period of one month from the date of receipt/production of a copy of this order.

The writ petition is, accordingly, disposed of.