Have been through this twice with HDFC Bank - last January for my Safari and a few years ago for my previous vehicle.
Their reasoning is "What if?" you turn out to be a crook / defaulter etc. In my experience with HDFC Bank, as soon as the loan ends, they send the NOC to you (to remove hypothecation). They also help in getting the hypothecation removed from the RC at the RTO.
The important bit here is "IF YOU DEFAULT". If you know / think you are not going to default, why worry? Plus, nobody is forcing you to take the loan from them, as you have demonstrated aptly.
The same loan procedure would apply for company registrations - my guess. In which case, surely the company's legal takes a look and vets this.
Going by my previous experience with HDFC Bank, I had no hesitation in signing all pages after reading the entire agreement. |