Supreme Court bars forcible vehicle repossession, awards truck owner ₹10 lakh compensation

The Supreme Court has ruled that vehicles cannot be repossessed by force from defaulting consumers. The bench awarded ₹10 lakh compensation to a truck owner whose vehicle was seized in violation of proper procedures.

The court directed the Reserve Bank of India to take effective steps ensuring genuine compliance by financial institutions when repossessing vehicles from defaulters. The ruling emphasizes the need for adherence to lawful repossession protocols.