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Sir, I want to inform you that in 2024 I purchased a Platina 110 bike on credit for ₹90,000. After three months, I gave the bike to my cousin, who promised to pay all the EMIs on time. However, he failed to do so. Although he paid two EMIs after three months, he then missed several consecutive EMIs. Later, he gave me ₹10,000 and said he currently has no money and would pay once he arranges funds. Meanwhile, I had to manage EMI bounce charges myself. Despite repeated requests, he keeps asking for more time, almost 14 months now. Additionally, he is using my bike illegally and violating traffic rules. Five traffic challans have been issued in my name, and none have been paid yet.
Since the bike is registered in your name, you are legally responsible for EMIs and traffic challans. Immediately send a legal notice to your cousin demanding repayment, return of the bike, and clearance of fines. File a police complaint for misuse and breach of trust if he refuses. Inform the finance company in writing and request repossession to stop further liability. For further legal assistance contact us on our helpline number.