Sri Lanka, Sept. 26 -- Financial and leasing companies must act strictly in compliance with existing legal provisions when repossessing vehicles or other equipment due to non-payment of instalments, Police Media Spokesperson Assistant Superintendent of Police F. U. Wootler stated.

He pointed out that Section 27 of the Finance Leasing Act No. 56 of 2000 clearly outlines the formal procedure to be followed when repossessing property.

Prior to repossessing any property, it is mandatory for the relevant leasing company to give prior notification to the Officer-in-Charge or Headquarters Inspector of the police station in the area where the property is located.

This notification enables the company to obtain police assistance to prevent pote...