Vehicle

Dear Client,
A lender cannot take away or seize a vehicle from the owner on the road in the absence of an order from the Court allowing the lender to seize the vehicle, the owner of which fails to repay the loan despite opportunities given to him by the lender. As per the RBI Guidelines, Banks/NBFC/FI are advised to ensure that the contracts with the recovery agents do not induce the adoption of uncivilized, unlawful, and questionable behavior or recovery process. Banks/NBFCs are advised to strictly adhere to the guidelines/code mentioned above during the loan recovery process. In the given situation, a complaint against the loan recovery agents appointed by the NBFC can be made to the regulatory authority RBI online at https://cms.rbi.org.in. In a recent judgment, the Hon'ble Patna High Court in the case of Dhananjay Seth v. Union of India, 2023 SCC OnLine Pat 1393, decided on 19-5-2023 directed the Superintendent of Police of all the districts in the State of Bihar, to ensure that within their jurisdiction no recovery agent of the Bank and Financial Institution might take the law into their hands without an order of the competent court of law. So, first ensure whether your vehicle is seized by the financier, Muthoot Capital following a Court's order or not. Further, a quick counseling session with a certified credit counselor can help you discover your options and choose the right path to resolve or settle the matter with the lender.

Dear Sir,
immediately pay the balance EMI and get back your vehicle other wise they may impose heavy penalty and also may sell the vehicle to third person.

Dear Client,

Aapki scooty Muthoot Capital ne uthai hai kyunki aapne apni loan ki last payment do saal tak nahi ki. Yah legally possible hota hai jab borrower apni EMI time pe nahi chukata, aur lender repossess kar sakta hai vehicle ko loan agreement ke terms ke anusaar. Lekin kuch steps aap le sakte hain

Sabse pehle, Muthoot Capital se turant sampark karein aur unse apni baaki dues ke baare mein poochhein. Samjhauta karne ki koshish karein, jaise ki pending EMI ka payment karne ka ek time frame set karna.
Aap EMI ke saath jo bhi penalty charges hain, unhe bhi clear karne ki koshish karein.

Agar aapne already EMI ka ek bada hissa chuka diya hai aur last payment ke liye unhone aapko proper notice nahi diya hai, toh aap unhe legal notice bhej sakte hain, jo unke action ko challenge kar sake. Lekin agar aapko proper notice mila hai aur aap time pe payment nahi kar paye, toh repossession valid ho sakta hai.

Agar aap apne dues clear kar dete hain (pending EMI aur penalty ke saath), toh aap lender ke saath baat karke apni scooty wapas paa sakte hain.Bank ya finance company se ye likhit mein le ki payment karne ke baad aapko scooty kitne dino mein wapas milegi.

Aap bank ke saath baat karke settlement ya full and final payment ka option bhi samajh sakte hain agar aapko financial difficulties hain. Iss case mein, bank aapko thoda kam paisa accept karke loan ko close karne ki riyayat de sakta hai.

Regards