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Where a vehicle was subject of a Hypothecation Agreement and without an Insurance Policy, the financier is not liable to pay the claim in the event of an accident; The person in control and possession of the vehicle should be construed as the owner and not alone the registered owner; SCWhere a vehicle was subject of a Hypothecation Agreement and without an Insurance Policy, the financier is not liable to pay the claim in the event of an accident; The person in control and possession of the vehicle should be construed as the owner and not alone the registered owner; SC

A three judge Bench of the Supreme Court clarified the legal position that where a vehicle was subject of an agreement of hypothecation and the person who was in possession and control of the vehicle...

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