Despite a reminder issued by the police last year of the process of seizing leased vehicles, many leasing and finance companies fail to follow legal recovery procedures.
Police issued a circular in February 2024 explaining the role of police officers in the process of vehicle acquisition. The circular was issued citing the “Finance Leasing Act” which laid out legal provisions on possession of equipment subject to lease financing including vehicles.
Lease payers say finance and leasing companies are seizing vehicles unlawfully.
Read more in today's Sunday Times edition here:
A short while later, the official car of the Commander of the Navy, bearing plate NAHA 5006, departed from Navy House, Longdon Place, Colombo 7.
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