The Company adopts due legal process as detailed below for repossession of vehicles
- Termination of the contract.
- Recall of the loan for all NPA cases.
- Invocation of arbitration clause and appointment of arbitrator.
- Filing statement of claim (S.O.C.) along with details of the agreement, invoice,
asset with a prayer seeking interim relief of repossession of the vehicle before
- Arbitrator to send the S.O.C. to the respondents and intimate the date of hearing.
- Seeking permission for interim relief of repossession on the date fixed for hearing.
- Appointment of Receiver by the Arbitrator to repossess the vehicle.
- After obtaining the interim order, informing concerned police station having jurisdiction
about the repossession order along with the copy of the order.
- Repossession of the vehicle with repossession order.