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Old 20th August 2012, 12:56   #166
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Have a query regarding what I've seen for a used car I was looking at.

I saw two entries for the same regn. number, chassis number combinations on the vahan.nic.in website.

First entry was for KA-01 RTO and second one for KA-51 RTO. Is this normal in the case of transfer of ownership done to an RTO other than the originally registered RTO?

Following is what I found in the website for both the entries:

first entry
purchase date:7-apr-2011
regn date :7-apr-2011
owner sr no : 1
name: Person-1
Insurance: IFFCO TOKIO, Comprehensive,02-Apr-2011 - 01-Apr-2012
Sl No. 1 A Company (KA-1), Transfer:01-Dec-2011
Sl No. 2 Person-1 (KA-51),Transfer: 30-Dec-2011

second entry
purchase date:7-apr-2011
regn date :7-apr-2011
owner sr no : 2
name: Person-2
Hypothecation: Reliance Capital , wef 31-Dec-2011
Insurance: IFFCO TOKIO, Comprehensive,02-Apr-2011 - 01-Apr-2012
Sl No. 1 A company (KA-1), Transfer:01-Dec-2011
Sl No. 2 Person-1 (KA-51),Transfer: 30-Dec-2011

Person-2 is trying to sell the car and has an RC in his name.

Does the above look normal? I was little confused since there is a listing for the company, then Person-1, and then Person-2 in the registration records, but the ownership serial number in the RC of the current owner (person-2) shows 2. It appears that the car was not registered in the company's name. Is that correct?

If somebody who is well-versed/exposed to such stuff can explain this, it will be great.

Regards
Rex
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Old 22nd August 2012, 20:20   #167
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Quote:
Originally Posted by rex_varghese View Post
Have a query regarding what I've seen for a used car I was looking at.

I saw two entries for the same regn. number, chassis number combinations on the vahan.nic.in website.

First entry was for KA-01 RTO and second one for KA-51 RTO. Is this normal in the case of transfer of ownership done to an RTO other than the originally registered RTO?

Following is what I found in the website for both the entries:

first entry
purchase date:7-apr-2011
regn date :7-apr-2011
owner sr no : 1
name: Person-1
Insurance: IFFCO TOKIO, Comprehensive,02-Apr-2011 - 01-Apr-2012
Sl No. 1 A Company (KA-1), Transfer:01-Dec-2011
Sl No. 2 Person-1 (KA-51),Transfer: 30-Dec-2011

second entry
purchase date:7-apr-2011
regn date :7-apr-2011
owner sr no : 2
name: Person-2
Hypothecation: Reliance Capital , wef 31-Dec-2011
Insurance: IFFCO TOKIO, Comprehensive,02-Apr-2011 - 01-Apr-2012
Sl No. 1 A company (KA-1), Transfer:01-Dec-2011
Sl No. 2 Person-1 (KA-51),Transfer: 30-Dec-2011

Person-2 is trying to sell the car and has an RC in his name.

Does the above look normal? I was little confused since there is a listing for the company, then Person-1, and then Person-2 in the registration records, but the ownership serial number in the RC of the current owner (person-2) shows 2. It appears that the car was not registered in the company's name. Is that correct?

If somebody who is well-versed/exposed to such stuff can explain this, it will be great.

Regards
Rex
Friends, can somebody comment on this please?

Regards
Rex
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Old 22nd August 2012, 20:59   #168
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

I have to transfer ownership of my Zen which was hypothecated to HDFC bank in the stone age, well 5 years ago.
I dont have any documents left now and RTO person has asked for Form 35 from the bank. Can I get it from them if I give the registration number of the car? I dont even have the loan number with me.
It sounds bad, but I have moved houses quite a few times!
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Old 26th August 2012, 14:52   #169
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Default Re: Hypothecation Removal At Noida RTO without broker

Quote:
Originally Posted by amitbjha View Post
Documents Required
1. RC Original copy
2. Insurance self attested photocopy.
3. NOC from Bank(Original).
4. Form-35 (original)Two in number issued by bank.
5. Affidavit
6. Registered Envelope

Steps required
1. Go in the morning probably at 10:00 AM with all the papers except
affidavit.
2. In front of RTO there are many notary buy a afidavit and fill it there
itself(basic information about car).Get it attested notary will do it
themself(cost 80 RS).
3. Go to counter no 8.Show all the documents.He will sign on it and
enter into their register.
4. The guy at counter no 8 will ask to collect the relevnt file of your car.
5. Go to right of Counter 8 and show the sign. The guy here some tiwari
will write the CAR No and will get the file from some record room.
6. The CAR File will be send to counter 8 again.The guy at counter 8
again will match the sign with the original sign you have done at the
time of purchase.
8. He will ask you to sign at a place.
9. He will ask to get the sign from RTO officer.
10. Go to RTO officer with the file he will match your face and sign on it.
11. Go gain at counter number 8.He will enter the Fee 100rs on it.
12 . Go to counter number 2 and submit the fee.He will give you a receipt.
13 submit a copy to counter no 8.
14. Go and collect the RC after two days in the evening.

Total Cost : 180 RS
Total Time : 2 Hours.

I hope this will help to many people here. I decided to do it byself after a agent asked me 1000rs for this.
Thanks to amitbjha for the step by step on how to get this done at Noida. Just to update his 2009 post, I got this done yesterday (Saturday), and not much has changed at the RTO. The steps are the same.

I went and got the affidavit which now costs Rs. 100, though it seemed to me there was room to bargain. For this payment I got the affidavit and attestation of the Insurance policy copy by the notary. I also purchased an envelope with stamps (total cost Rs. 30) from the post office across the road, to provide as a 'registered envelope', though the RTO people did not ask for it later.

The RTO itself seemed to be overrun with touts. The sequence described by amitbjha is still valid, and the Tiwari fellow mentioned by him is still there. Money from touts can be seen exchanging hands, for procuring the files. Rs. 50 was the going rate.

Anyway, if you are there to get everything done yourself, without payment of such bribes, prepare for some delays. Some are due to the antiquated system at the RTO, wherein there is a physical file on your car which has to be pulled out from the record room. In all, it took around 35-40 mins for the file to emerge, out of which 10 were spent in watching him record details of some others who were not present.

They tend to take their sweet time for everything, with files of people who are not present deemed more important than yours.
Following the emergence of the file, its verification at counter 8, and the subsequent signature from the RTO, the details have to be loaded onto a computer. The fellow at counter no. 8 (Ami Kumar) asked me to wait for some 45 minutes for this to happen.

After the wait, the payment is to be made. The payment can be made till 2.15 pm. You can see touts in the line making payments for several folks at one time. No one seems to be objecting to this behaviour. Once you get a receipt, you hand it back to counter 8.

The assistant present there asked to collect the RC on Monday during evening hours (4-5 pm). From what he said, collections are also possible on Saturdays, again in the same evening hours.

Total time spent: 3 hours (10.30 am to 1.30 pm)
Total money spent: Rs. 230

Hopefully I'll get my altered RC soon.
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Old 13th September 2012, 10:09   #170
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Hi,

I have a Car Loan with SBI. The total duration of the loan is 36 months and I am already done with 18 months of EMIs. Now, I wish to close this account by prepaying the full/partial amount. Can I simply do a online NEFT transfer by adding the Loan account as a payee? I don't think there are any prepayment charges for it. The problem is my Loan account is in Chandigarh and I am in New Delhi, so it is not possible for me to go to the bank and get all these details. I have been trying to get through to the customer care of SBI since two days, but to no avail.

I have had a very bad previous experience with SBI when I took the loan, I had to visit the bank atleast 10-11 times after getting the loan approved
because of some missing documents which they realise at the 11th hour.

Is there any document checklist available for the same while trying to prepay the car loan fully/partially.

Any info in this regard would be helpful.

Thanks.
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Old 20th December 2012, 13:36   #171
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

I might be shifting to Hyderabad , the car is in my Moms name and she will be resident of karnataka and stays in Karnataka only. So if i start using the car in Hyderabad do i need to shift the registration to Hyderabad ? Or for 12 months it wont be problem using the car in Hyderabad with KA registration?
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Old 7th March 2013, 13:17   #172
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Quick question guys.

I have paid off my existing loan on my car and got the NOC from the bank. However, I have also got a letter from them that I need to provide to the RTO which mentions that they need to remove the Bank's hypothecation from the RTO records.

My issue is this. I received my Certificate of Registration (Smart card) from the RTO a couple months back and no where on it does it mention that the car is hypothecated to the Bank. Is this user error on the RTO's part by forgetting to mention the Bank's name on the card or must they have forgotten to hypothecate the car to the Bank in the first place?

My question is, if your car is hypothecated to the Bank when you've obtained a loan, does your smart card have any details of the hypothecation or is this only in the RTO records?
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Old 7th March 2013, 16:52   #173
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Quote:
Originally Posted by 9thsphinx View Post
Quick question guys.

My issue is this. I received my Certificate of Registration (Smart card) from the RTO a couple months back and no where on it does it mention that the car is hypothecated to the Bank. Is this user error on the RTO's part by forgetting to mention the Bank's name on the card or must they have forgotten to hypothecate the car to the Bank in the first place?
So here's a Quick Answer
It doesn't show on the card, like it used to in the RC Book. But in the records, (RTO systems), this will show. So you need to submit the NOC, along with the old smart card. They will issue you a new (clean) one
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Old 11th March 2013, 11:15   #174
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Quote:
Originally Posted by 9thsphinx View Post
Quick question guys.
…..
My question is, if your car is hypothecated to the Bank when you've obtained a loan, does your smart card have any details of the hypothecation or is this only in the RTO records?
Quote:
Originally Posted by triedeverything View Post
So here's a Quick Answer
It doesn't show on the card, like it used to in the RC Book. But in the records, (RTO systems), this will show. So you need to submit the NOC, along with the old smart card. They will issue you a new (clean) one
Not sure if it holds true for every state – because, I had a smart card and it clearly mentioned the Bank’s name on the RC card. My car is registered in Chandigarh.
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Old 21st March 2013, 19:14   #175
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Help
Team, I stay in bangalore and had sought the help of Automobile Association of Southern India for transferring the vehicle from my company's name to mine. It has been 8 months and AAI has completely bungled this one. First they said the RTO has lost my insurance copy, then my the NOC letter and now my RC book- there have been many more issues!!
Each time I have gone back to my organization for help, but I am beginning to lose confidence here in AAI.

Can someone provide me some guidance on how to escalate and get this resolved?
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Old 21st March 2013, 22:51   #176
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Quote:
Originally Posted by dhinchak View Post
Hi,

I have a Car Loan with SBI. The total duration of the loan is 36 months and I am already done with 18 months of EMIs. Now, I wish to close this account by prepaying the full/partial amount. Can I simply do a online NEFT transfer by adding the Loan account as a payee? I don't think there are any prepayment charges for it. The problem is my Loan account is in Chandigarh and I am in New Delhi, so it is not possible for me to go to the bank and get all these details. I have been trying to get through to the customer care of SBI since two days, but to no avail.

I have had a very bad previous experience with SBI when I took the loan, I had to visit the bank atleast 10-11 times after getting the loan approved
because of some missing documents which they realise at the 11th hour.

Is there any document checklist available for the same while trying to prepay the car loan fully/partially.

Any info in this regard would be helpful.

Thanks.
Don't pay the whole amount . Goto bank and close it after a month (?) or so so that you wont have to pay for prepayment. I was suggest the same coz if I prepay the full amount now, they will ask me to pay the difference in interest too ( the interest rate when I took loan and what it is now is different; higher) .

And when you have closed the loan, do take the documents to RTO and get the hypothecation cleared.

I dnt think our RTOs softcopies and hardcopies show the same data thanks to error in data entry.

Last day I saw Pajero Sport being registered as a product of HM !
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Old 22nd March 2013, 08:48   #177
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Quote:
Originally Posted by jkdas View Post
Don't pay the whole amount . Goto bank and close it after a month (?) or so so that you wont have to pay for prepayment. I was suggest the same coz if I prepay the full amount now, they will ask me to pay the difference in interest too ( the interest rate when I took loan and what it is now is different; higher) .

And when you have closed the loan, do take the documents to RTO and get the hypothecation cleared.

I dnt think our RTOs softcopies and hardcopies show the same data thanks to error in data entry.

Last day I saw Pajero Sport being registered as a product of HM !
Thanks! I already prepayed the complete amount. No prepayment penalty, or difference in interest charges etc was payed. I transferred the money into my Savings A/C, wrote a letter authorizing them to withdraw the money from my A/C and transfer it to my Loan A/c to close it, and scanned and e-mailed it to the Branch manager. The process was relatively smooth, I just had to call them up twice and remind them about closing the A/c.

Once the A/C was closed, I visited the branch on a Saturday, armed with all the documents, got them stamped by the Bank, and rushed to the RTO to get the Hypothecation removed. Got the new RC the very next day, had to use the service of an agent as I did not have the luxury and the time to visit the RTO again.
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Old 22nd March 2013, 13:01   #178
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

I have my Santro Xing XO, registered in Pune, which I was planning to send off to my younger brother who stays in Varanasi, UP.

Am slightly confused at the procedure and the cost involved. Could somebody guide me on :

1. Steps that I have to undertake.
2. Steps my brother will have to undertake
3. Cost involved, especially with RTO in change of registration of state and ownership from Pune to Varanasi.

From what I understand, I would need

A) NOC from Pune RTO- Form 28
1. What all supporting documents are required along with Form 28 ?
2. My address when I bought the car is different than now which is my permanent residence- although in the same city. Will it matter ?


B) Form 29 (notice of Transfer of Ownership) or Form 30 (Report of Transfer of Ownership)
1. What is the difference between the above 2 forms ? In which situation each is used and by whom ? Buyer or Seller ??
2. What all supporting documents are required along ?

C) Any sale deed kind of thing also needed ? I dont intend to take money from my brother, but just for formality.

D) Does the Buyer (my brother) need to be present in Pune RTO for any od the above ?
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Old 8th May 2013, 23:34   #179
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

A purely academic question but I was just curious. Can i ever use my car as a collateral/hypothecate it to raise some funds?
A loan against movable property?
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Old 22nd November 2013, 11:51   #180
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Default Re: All queries about Loan NOC, RC Entry and Hypothecation removal

Picked up my Duke on October 9. I was told 45 days for the rc book to reach home. It is about time it landed and it has not. What can I do? I did speak to the dealer Indiranagar KTM. They suggested I visit the RTO.
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