Motor Vehicles Act, 1988–Secs. 147 & 149–Theft of vehicle–Claim–Liability of Insurance Company–Vehicle was purchased in an auction hold by the Bank–Following the transfer of vehicle, the Insurer was specifically informed by the Bank which held a lien to the Insurance Policy of the lifting of it’s lien following the termination of the agreement of hypothecation–Following this, a policy of insurance was issued by the insurer–Third respondent did not set up any claim in respect of loss of vehicle–Held, the insurer cannot repudiate the claim of the appellant holding that its liability is to the third respondent who was having no subsisting interest in the ownership of the vehicle.
