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Report No. 168

Chapter II

Part I

Analysis of Views on Questionnaire

2.1. Views of respondents considered.-

Pursuant to the questionnaire issued by the Law Commission on 18th May, 1998, several responses were received. The High Court of Madhya Pradesh, Government of Assam, Government of Haryana, Board for Industrial and Financial Reconstruction, Madras High Court Bar Association, the Lok Ayukta of Karnataka, a number of District Judges of the Karnnataka Cadre and certain other interested individuals and organisations replied to the questionnaire.

Almost all of them have supported the amendments proposed by the 1989 Amendment Bill and the modifications suggested by the law commission. One individual1 who claims to be the author of the book "Lease Financing and Hire-Purchase ", a book running into 2000 pages, has expressed the view that the very idea of a Hire-Purchase Act should be dropped and a Consumer Credit Act on the lines of the British and Australian enactments be enacted.

A similar objection has been put forward by another gentleman2, whose letter has been forwarded to us by the Federation of All-India Hire-Purchase Financiers. This objection/suggestion is not acceptable for more than one reason, but before we record them, it would be appropriate to deal with the English law and the U.K. Acts on the subject including the U.K Consumer Credit Act, 1974, since the aforesaid objection/suggestion is based mainly on the Acts of U.K.

1. Shri Vinod Kumar Kothari.

2. Shri Sunil Kamoria.

The Hire-Purchase Act, 1972 Back

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