What borrowers can do if a lender forcibly repossesses a financed vehicle
Last Update Date: 05-10-2026
Published by Business Standard
Abhishek Kumar's role: Quoted
Abhishek Kumar said a signed panchnama made at the time of seizure should note the state of the vehicle, its odometer reading and any belongings inside. He also pointed out that breaking locks, intimidation and towing with people inside are unlawful methods.
More of Abhishek's views on debt and loans
The article follows a Supreme Court ruling that awarded ₹10 lakh to a truck owner after a lender took and sold his financed truck without following due process. It explains when repossession can start, the notices lenders must give, what documents a recovery agent should carry, how to complain to the police, the lender and the RBI Ombudsman, and acting before an auction.
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What borrowers can do if a lender forcibly repossesses a financed vehicle