Loan NOC and Hypothecation removal: Pls Help - Team-BHP

rkbharat · 17th March 2008, 10:17

I have 800 loaned by ICICI on 1999, all loan was cleared on 2002, and ICICI issues the NOC and other letter for hypothecation removal. But for some reason we could not apply for removal.

And now this NOC is 6 yrs old.
Can I use the same NOC now?
Will ICICI issue new NOC without any problem?
What could be the problems now?

dadu · 17th March 2008, 12:46

No I think the NOC will have a limited period mentioned on it, pls check, if youc ant find anything, it can be used.

If the NOC by ICICI has expired, call them up and they will re-issue one for a charge.

No problems if you have the NOC from ICICI, your signatures should match the ones given to the RTO when you bought the 800.

rkbharat · 17th March 2008, 12:50

Thanks Dadu, I willl check the NOC, but I remember, it was mentioned as valid for 3 months for my Indica.

Quote:

Originally Posted by dadu

No I think the NOC will have a limited period mentioned on it, pls check, if youc ant find anything, it can be used.

If the NOC by ICICI has expired, call them up and they will re-issue one for a charge.

No problems if you have the NOC from ICICI, your signatures should match the ones given to the RTO when you bought the 800.

rex_varghese · 17th March 2008, 13:00

I think Form#35 issued by the Finacier has a validity of 90 days. You can request them to re-issue Form#35 and submit the same to RTO with required documents (RC Book in original, Current/Valid insurance, NOC Letter from Financier).

Regards
Rex

shankar.balan · 17th April 2008, 16:30

I just got my NOC from ICICI because I foreclosed one car loan to buy a new one.
Yes it is correct that the ICICI NOC is valid for 90 days from the date of issue.

You get two NOC's - one for the RTO and another for your Insurance Service Provider

Quote:

Originally Posted by rex_varghese

I think Form#35 issued by the Finacier has a validity of 90 days. You can request them to re-issue Form#35 and submit the same to RTO with required documents (RC Book in original, Current/Valid insurance, NOC Letter from Financier).

Regards
Rex

sbelekar · 29th May 2008, 12:06

rakbharat: you probably got your work done by now, but here's my experience with NOC and hypothication...
I was issued a NOC by ICICI two years ago. Since it was valid for only 90 days, I got a fresh one from their service center by paying 100 Rs. Of course if you oder it on phone its free, but take couple of weeks to reach you.
After getting NOC from them, filled up form 35 at RTO, paid 100 Rs. for removal of hypothecation. At the same time filled up form 28 for NOC, and submitted everything to RTO only yesterday. I guess I will have to wait for a month now to get the NOC and RC book back.

BTW, the experience at RTO was painful. Also the process is very very long. I wish I had just paid 1K to agent and got my NOC done in a days time.

17th March 2008, 10:17	#1 (permalink)
rkbharat BHPian Join Date: Sep 2006 Location: Tokyo/Gurgaon/New Delhi Posts: 474 View My Garage	Loan NOC and Hypothecation removal: Pls Help I have 800 loaned by ICICI on 1999, all loan was cleared on 2002, and ICICI issues the NOC and other letter for hypothecation removal. But for some reason we could not apply for removal. And now this NOC is 6 yrs old. Can I use the same NOC now? Will ICICI issue new NOC without any problem? What could be the problems now? __________________ Cheers.....Rajiv SX4-ZXi, May 2008, 1500KM, FE City 10.5-12, 100% AC Maruti 800, 1999, 7800 KM, 19KM/L Indica V2, Sold at 97234KM

17th March 2008, 12:46	#2 (permalink)
dadu Senior - BHPian Join Date: May 2007 Location: Bangalore Posts: 2,090 View My Garage	No I think the NOC will have a limited period mentioned on it, pls check, if youc ant find anything, it can be used. If the NOC by ICICI has expired, call them up and they will re-issue one for a charge. No problems if you have the NOC from ICICI, your signatures should match the ones given to the RTO when you bought the 800. __________________ Remember, its a machine

29th May 2008, 12:06	#6 (permalink)
sbelekar BHPian Join Date: May 2006 Location: Bangalore Posts: 53 View My Garage	rakbharat: you probably got your work done by now, but here's my experience with NOC and hypothication... I was issued a NOC by ICICI two years ago. Since it was valid for only 90 days, I got a fresh one from their service center by paying 100 Rs. Of course if you oder it on phone its free, but take couple of weeks to reach you. After getting NOC from them, filled up form 35 at RTO, paid 100 Rs. for removal of hypothecation. At the same time filled up form 28 for NOC, and submitted everything to RTO only yesterday. I guess I will have to wait for a month now to get the NOC and RC book back. BTW, the experience at RTO was painful. Also the process is very very long. I wish I had just paid 1K to agent and got my NOC done in a days time. __________________ Mitsubishi - Cedia Sports Maruti - Wagon-R Maruti - 800 Hamilton - Mountain bike

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17th March 2008, 13:00	#4 (permalink)
rex_varghese BHPian Join Date: Nov 2007 Location: Bangalore Posts: 109 View My Garage	I think Form#35 issued by the Finacier has a validity of 90 days. You can request them to re-issue Form#35 and submit the same to RTO with required documents (RC Book in original, Current/Valid insurance, NOC Letter from Financier). Regards Rex