Can I file a case against my friend for deceitfully taking a loan on my name? Sir, my friend bought a car in my name and also took a loan in my name. He is unable to pay the EMI and is not returning the car. I need suggestions on how to get the car back. He has also given my car to someone else for money, but he is not informing me about it.
You have completed all the legal and other formalities in purchasing and financing of the car. At this stage you cannot say that your friend has purchased in your name.
As per the financial documents, you are the real borrower. It does not matter that your friend has not been paying the EMI. You should lodge a first information report against your friend because he has deceived you by making false promises to pay EMI.
Your friend had no intention to pay the EMI at the time of getting finance from the bank. He has cheated you and by making default he has committed the offence of cheating. You should surrender the car to the bank and seek cancellation of the hypothecation.
But in this process you should be ready to pay the balance amount remaining after the adjustment of sale proceeds of your car.
