The short but interesting question that arises for consideration in this Original Petition is whether the 'financier" of a motor vehicle under a hire purchase agreement has to be impleaded as necessary party in a proceeding before the Motor Accidents Claims Tribunal, under Section 166 of the Motor Vehicles Act, 1988. Relevant facts may be briefly noticed.

2. A petition for compensation was filed by the parents of a deceased victim in a motor accident. The accident occurred on March 2, 1994. The insurance company which was impleaded in the case contended that there was no valid insurance in respect of the vehicle on the date of the accident. The petitioner who was impleaded as the owner of the vehicle filed written statement contending that the vehicle in question was the subject matter of a hire purchase agreement with M/s. Sundaram Finance Limited (hereinafter referred to as 'the financier'). It was further contended that the financier was bound under the Hire Purchase Agreement to remit the requisite insurance premium against the statutory third party risk as contemplated under the Act. The petitioner in his capacity as the hirer, was regular in remitting the monthly h