Case On Hire Purchase Agreement

1. The company undertakes to hand over and supply to the lessee the machinery and equipment referred to in the list below, and, in accordance with the aforementioned agreement, the company has delivered to the lessee possession of the above-mentioned machinery and equipment. . cannot be assimilated to lease purchase agreements. 23. It was insisted that, although the provisions of the Sarfaesi Act of 2002 could be applied in similar cases, which. Special provisions applicable to motor vehicles which have been the subject of a rental contract in cases covered by a rental contract. In cases covered by the rental purchase. Applicant to pay Rs 10,000 to the respondent as costs. 2. It is apparent from the registration documents that a purchase of rent is planned on 4.4.2000 on the initiative of the defendant. 4.

The tenant paid the company an amount of Rs upon performance of this contract. . in the form of security or seriousness, adjusted in relation to the rental purchase price of the aforementioned machinery and equipment, if the tenant exercises the possibility of acquiring the same as those below. If the tenant does not exercise this option or the contract is terminated before the exercise of this option, the amount of the mentioned deposit is refunded to the tenant by the company at the expiration or prior date of this agreement, subject to the deduction of all claims that the company has against the tenant on the basis of this agreement or the law. including the cost price of the above-mentioned machinery and plant. …-VI of the Companies Act. It also claims that Assessee is a finance company and that it is mainly active in the leasing and leasing of vehicles with TELCO. It made the provision for employment-related credit losses. 26.

If the lessee exercises the option and pays the company the price of the machinery and equipment as well as other funds, as set out in clause (25) above, the sale of such machinery and equipment to the lessee is considered complete, since the option is terminated at the time of commissioning of the option. Until then, however, the company will continue to own it. However, if the tenant does not pay the amount due and to be paid to the company, as indicated above, on the date or date from which the option is to take effect, this contract will be terminated and the tenant will immediately return the machinery and equipment to the company in good working order, as indicated above. Lease purchase agreements are generally more expensive in the long term than a full payment for the purchase of assets. This is because they can have much higher interest costs. For businesses, they can also involve greater administrative complexity. 19. This Agreement shall be deemed to have commenced from the date of this Agreement and shall remain valid for a period of. years from the date of this Agreement, which has ended until the date of . and (unless the tenant exercises the purchase option provided for below) at the expiry of the aforementioned period or the previous cessation thereof, as provided below, the tenant must return, in perfect working order, at his own expense at the place of activity of the company or on the instruction of the company, the aforementioned machinery and equipment, provided that the tenant remains obliged to pay the rental costs, until these machines and installations are actually delivered to the company or taken over by it. .

It is created. At several times, the National Commission has evaluated this type of issues, which are reported in different consumer magazines, that even in the case of mortgages and rental purchase cases, consumers. Depak Kumar Sahu Vrs Indusind Bank Ltd. . . .

CategoriesUncategorized