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Hire-Purchase - owner - buyer - ownership - financier - possession - force - movable property - Supreme Court

1) Trilok Singh & Ors. v. Satya Deo  Tripathi,  AIR  1979  SC  850
2) K.A. Mathai alias Babu & Anr. v. Kora Bibbikutty & Anr.,  (1996)
7 SCC 212
3) Charanjit Singh Chadha & Ors. v.  Sudhir  Mehra,  (2001)  7  SCC
417
4) M/s. Damodar  Valley  Corporation  v. The State of Bihar, AIR 1961 SC 440; 5) Instalment  Supply  (Private)  Ltd.  & Anr. v. Union of India & Ors., AIR 1962 SC 53;
6) K.L.  Johar  &  Co.  v.  The Deputy Commercial  Tax  Officer,  Coimbtore  III,  AIR  1965  SC  1082; 
7) Sundaram Finance Ltd. v. State of Kerala & Anr., AIR 1966 SC 1178.



IN THE SUPREME COURT OF INDIA
CRIMINAL APPELLATE JURISDICTION
Special Leave Petition (Crl.) No. 8907  of 2009
Anup Sarmah                                        ...Petitioner
                                   Versus
Bhola Nath Sharma & Ors.                          ...Respondents

The  law  can  be  summarised  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  re-possessing  the  goods owned by him.
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