Obligation of Financer -- Borrower had the initial obligation to insure the vehicle, but without insurance he plied the vehicle on the road and the accident took place – Person in possession of the vehicle under the hypothecation agreement has been treated as the owner -- High Court has erroneously opined that the financer had the responsibility to get the vehicle insured, if the borrower failed to insure it. Liability could not have mulcted on the financer.

(SC) Decided on: 01.12.2014