Following President Gotabaya Rajapaksa’s directions, Police has been instructed by the Inspector General of Police on steps to take with regard to seizing of vehicles by financial institutions.
Accordingly, Officers in Charge of Police Stations have been instructed to investigate into complaints by leasing companies on not paying leasing instalments, before allowing vehicles to be seized from their owners.
However, if the default payment period falls within the grace period provided by government direction, then leasing companies or financial institutions will not be able to seize vehicles.
In case of complaints of vehicles being seized during the grace period are lodged, OICs of Police are further instructed to treat such instances as Theft or Robbery under the Penal Code.
