HDFC BANK LTD vs KUMARI RESHMA

The Supreme Court upheld the High Court's decision to enhance the compensation awarded to the claimant for injuries sustained in a motor vehicle accident, affirming the liability of the financer, HDFC Bank, under the terms of the hypothecation agreement. The Court noted that the bank had a duty to ensure the vehicle was insured, as per Clause 16 and 17 of the loan agreement, and thus could be held jointly and severally liable for the compensation. The Court dismissed the appeals of the bank, affirming the High Court's ruling that the enhanced compensation of Rs. 3 lacs was just and equitable under the circumstances.