Sharma v Toonz Wholesale Cars Limited - Reference No. MVD 516/2023 [2024] NZMVDT 80 (17 May 2024)

Last Updated: 19 June 2024

IN THE MOTOR VEHICLE DISPUTES TRIBUNAL I TE RŌPŪ TAKE TAUTOHENGA Ā-WAKA MVD 516/2023 [2024] NZMVDT 080 BETWEEN UTKARSH SHARMA Applicant AND TOONZ WHOLESALE CARS LIMITED Respondent

HEARING at CHRISTCHURCH on 15 March 2024 (by audio-visual link) MEMBERS OF TRIBUNAL

D M Jackson, Barrister – Adjudicator A Cate – Assessor

APPEARANCES

U Sharma, Applicant R Chattu, Witness for the Applicant

D McPhee, Sales Manager for the Respondent

DATE OF DECISION 17 May 2024

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DECISION OF THE TRIBUNAL

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A Mr Sharma’s rejection of the vehicle is upheld from 30 November 2023.

2. The collateral credit agreement between Mr Sharma and Heartland Bank Limited dated 24 July 2023 is vested in Toonz Wholesale Cars Limited as from 30 November 2023. Mr Sharma has no further obligation to make any payments under that agreement.

100. Toonz Wholesale Cars Limited must pay Mr Sharma the monthly payments of principal and interest made by Mr Sharma to Heartland Bank Limited since the date of rejection. Within ten working days of the date of this decision, Toonz Wholesale Cars Limited must pay Mr Sharma $6,600.51.

4. Toonz Wholesale Cars Limited must also pay Mr Sharma the principal component of his payments prior to 30 November 2023 under the collateral credit agreement. Within ten working days of the date of this decision, Toonz Wholesale Cars Limited must pay Mr Sharma $2,280.44.
5. Within ten working days of the date of this decision, Toonz Wholesale Cars Limited is to repay Mr Sharma his cash deposit of $1,250.
6. Once these sums have been paid in full to Mr Sharma, Toonz Wholesale Cars Limited must collect the vehicle from him or the repairer at its cost (if any).

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REASONS

Introduction

[1] By my decision dated 8 May 2024 I made the following orders:

A Mr Sharma’s rejection of the vehicle is upheld from 30 November 2023.

2. The collateral credit agreement between Mr Sharma and Heartland Bank Limited dated 24 July 2023 is vested in Toonz Wholesale Cars Limited as from 30 November 2023. Mr Sharma has no further obligation to make any payments under that agreement.

100. Toonz Wholesale Cars Limited must pay Mr Sharma the monthly payments of principal and interest made by Mr Sharma to Heartland Bank Limited since the date of rejection. Mr Sharma is directed to obtain this information from the lender and supply it to the case manager. The Tribunal will make a further order based on the information supplied (if required).

4. Toonz Wholesale Cars Limited must also pay Mr Sharma the principal component of his payments prior to 30 November 2023 under the collateral credit agreement. Mr Sharma is directed to obtain this information from the lender and supply it to the case manager. The Tribunal will make a further order based on the information supplied.
5. Within ten working days of the date of this decision Toonz Wholesale Cars Limited is to repay Mr Sharma his cash deposit of $1,250.
6. Once these sums have been paid in full to Mr Sharma, Toonz Wholesale Cars Limited must collect the vehicle from him or the repairer at its cost (if any).
   

[2] On 9 May 2024 Mr Sharma submitted his calculations of the amounts to be awarded together with relevant statements from Heartland Bank Limited. The calculations appear to be in order having cross referenced them to the statements supplied.
[3] Accordingly, I make the following orders:

A Mr Sharma’s rejection of the vehicle is upheld from 30 November 2023.

2. The collateral credit agreement between Mr Sharma and Heartland Bank Limited dated 24 July 2023 is vested in Toonz Wholesale Cars Limited as from 30 November 2023. Mr Sharma has no further obligation to make any payments under that agreement.

100. Toonz Wholesale Cars Limited must pay Mr Sharma the monthly payments of principal and interest made by Mr Sharma to Heartland Bank Limited since the date of rejection. Within ten working days of the date of this decision, Toonz Wholesale Cars Limited must pay Mr Sharma $6,600.51.

4. Toonz Wholesale Cars Limited must also pay Mr Sharma the principal component of his payments prior to 30 November 2023 under the collateral credit agreement. Within ten working days of the date of this decision, Toonz Wholesale Cars Limited must pay Mr Sharma $2,280.44.
5. Within ten working days of the date of this decision, Toonz Wholesale Cars Limited is to repay Mr Sharma his cash deposit of $1,250.
6. Once these sums have been paid in full to Mr Sharma, Toonz Wholesale Cars Limited must collect the vehicle from him or the repairer at its cost (if any).
   

D M Jackson
Adjudicator