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ARUN KUMAR GOEL, SAROJ SHARMA, CHANDER SHEKHER SHARMA
ICICI BANK LTD. – Appellant
Versus
GHANSHYAM SHARMA – Respondent


Advocates Appeared:
Mr. Vijay K. Verma, Advocate, for the Appellant; Mr. Neeraj K. Sharma, Advocate, for the Respondent

ORDER

Arun Kumar Goel, President (Oral)- Brief facts giving rise to this appeal are, that respondent got Tata 207 vehicle bearing registration No. HP-66-0399 financed from the appellant. He claims to have deposited Rs. 80,000 as margin money and the balance amount was financed by the appellant. Stand of the appellant in this behalf is, that finance provided by it was in the sum of Rs. 2.90 lacs, and Rs. 70,000 was deposited by the respondent as margin money. This amount was payable in 47 equated monthly instalments commencing from 1.10.2003.

2. Respondent admits that he was in default of the payment of instalments due on 1.10.2003, 1.3.2005 and 1.12.2005. Further according to him on 24.3.2006 when the vehicle was parked at Manikaran Chowk at Bhunter, in the morning at about 8.00 a.m., 5-6 men of the appellant came and forcibly took possession by asking the driver to get down. His further case is that at this juncture he offered Rs. 16,000 in cash, but these 5-6 persons did not accept this amount as according to them cash transaction was not permissible. Respondent claims to have made attempt by approaching the appellant to return the vehicle, but without any result.

3. In this backgro

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