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Old 7th January 2014, 11:25   #16
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Default re: Bank NOC expired, want to transfer car. Now what?

Originally Posted by ani_meher View Post
Transfer process is very easy once it is started. 3000 is very reasonable for the amount of time saved, go for it.

Also, how does it matter whether the car is in your name or not? Anyone can drive any car, only thing is there should be some paper. You faced problem because you said it was your car and showed NOC and all. Now on, till the car is transferred to your name, tell that car is of your brother in law and you are driving around, as all the insurance as well as car documents are still in the car owner's name.

For insurance, can you do one thing? Renew the insurance while the car is on the previous owner's name, so that you get the NCB. Then transfer the ownership. The insurance now will only be a name change. Next year when you go for insurance, you will need to pay full premium without any NCB.
I will consult the agent on the insurance as you are suggesting.
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Old 24th January 2014, 21:10   #17
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Default Re: Bank NOC expired, want to transfer car. Now what?

Originally Posted by sandeep108 View Post
Sorry I do not agree with you with this. The owner will simply show his set of transfer papers including the car handover receipt. This will have the effect of even more problems for the purchaser as he did not transfer the car in time.
Whenever I sell a car, I simply send a copy of the car handover receipt (with the time and date), purchasers PAN card and address proof under cover of a letter to the RTO and insurance company. By doing this, after the time of handover, I am no longer responsible for anything related to the car.
Dear Sandeep,

I beg to differ with you in this case. My experience along with a very close friend of mine says otherways. He sold his bike and did like what you did. After 3.5 years, he got an arrest warrant in his name and police came knocking at his door for not responding to previous notices issued. After exams he sold his bike, went to native and started working there. The new owner sold it to another person who jumped quite a lot of signals for which notices were sent to pay the fine. When the notices were returned (as he was at his native), the nature changed from penalty informing challan to notice to appear in person and finally an non-bailable arrest warrant before he was declared legally as a "disappearing culprit" (sorry for this word as I am not aware of the legal word for this). He was never ever aware of all these things, the place where he was staying was taken over by another batch of students and they told this guy is not staying with them and the postman simply returned the notice to the originator. He got another job in the same city, spoke to the previous landlord and started living there when the cops came looking for him. He was taken to custody, was produced in court, was "behind the bars" for couple of the days and was ultimately freed (price was quite hefty to come out unscathed).

He narrated the story everywhere (to the police when they came to arrest him, to the advocates, to the judge etc. etc.) but everyone had the same line to state - "in the eyes of law, you are culprit, had the offence been a crime and of more serious nature, escaping would have been even tougher".

On another topic, there was a crime which happened in Kerala, where a Maruti Omni was bought from a place about 250 Km away from the scene of crime on a Saturday evening. Promised to come back on Monday to complete re-registration process and committed the crime on Sunday. On the Monday while he was anticipating buyers, it were the cop who came to arrest him. To add to his vows, the papers they signed carried no correct address and the photostat paper the buyers gave were all fake (obviously), mobile number which was used to communicate was recovered from the road just outside his house's compound wall. He was the main accused in that case till they caught hold of the actual culprits.

1st incident is what me & my friend experienced directly as I was working outside to help my friend to come out clean. He lost his job also as a result of him being accused which he earned back after acquittal.
2nd incident is what I had read in news papers.

Lesson learned - it is the seller's responsibility to get the name in RC book changed. Till that time whatever happens, it is his headache.

Originally Posted by Dry Ice View Post
The one issued to me by ICICI did have a expiry - 90 days from date of issue. However, this is not consistent - have seen some where no expiry is mentioned!
I have experience with 3 banks - ICICI Bank, HDFC Bank & Citi Bank. All these had a validity period of 90 days for the NOC.
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Old 25th January 2014, 12:53   #18
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My NOC expired 2 years back. I just gave a call to customer care and quoted my loan number . New NOC was couriered to me in 3 days. Mine had a validity of 180 days.

By the way it is Citibank.
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Old 25th January 2014, 13:09   #19
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Default Re: Bank NOC expired, want to transfer car. Now what?

@Jakku: What you are stating may be true but seem to be quite extreme. In this case, you have no idea whether the owner has already informed the RTO, etc. authorities like the practice I usually follow. If he has and if the police are reasonable, they will create more problems for the buyer rather than the seller. If he has and the police are also unreasonable, there may be some hassle, but no Court will imprison a genuine seller.

In the cases you quote obviously the seller has not done his homework diligently or done even basic checking which is required of him. He can surely place a call on the mobile and find it is a bogus number? Then certainly he will and should be held responsible.

But what is being suggested is simply not done. Trying to 'fix' a genuine seller?
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Old 26th January 2014, 10:39   #20
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Default Re: Bank NOC expired, want to transfer car. Now what?

I would like to narrate transfer experience of similar case. In fact even a agent is not required for this process. The only requirement is all the original papers signed by the original owner. I had purchased a Bajaj Caliber in 2010 which was a 2004 make. It had hypothetication by BAFL and with the necessary documents, first the hypothetication was removed and the RC book was transferred to the first owner. Then with the set of another documents duly signed by the owner I got the RC book transferred in my name. In fact, if one is willing to go the office on Saturdays, it can be done without agent/bribe. Patience is required.

RTO people frequently understand that the NOC expiry is one of the most meaningful things and seldom make a note of it. From a legal point of view too, the banks can't take any action even if an expired NOC is used by RTO or the customer. NOC with expiry date is a ridiculous concept and many banks have stopped attaching it.
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Old 26th January 2014, 13:28   #21
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Post Re: Bank NOC expired, want to transfer car. Now what?

Originally Posted by diwa View Post
My NOC expired 2 years back.
I just gave a call to customer care and quoted my loan number.
New NOC was couriered to me in 3 days.
Mine had a validity of 180 days.
By the way it is Citibank.
Hi, similar case here...
CitiBank Auto Loan, original NoC received in mid-2005 - NoC validity then was for 60 days.
A few weeks back walked into the CitiBank branch at Alwarpet & asked the "May I Help You" lady for help.
Apparently the CitiBank financial entity that I'd taken the loan from way back in 2000 no longer exists.
In any case, the helpful lady rang up customer care & explained my predicament.
I had to give them my Loan-Number & verification details like Date-of-Birth & Address over the phone.
The "new" NoC was received at home by courier a week later - validity period was 180 days.

The RTO fees ( in Chennai ) for cancellation of the hypothecation clause in the Registration Certificate is Rs. 125 - there are no other charges.
At the RTO, in addition to the original Registration Certificate & the NoC from the financier, one has to submit a photocopy each of the Pollution-Under-Control certificate & Insurance document.
The NoC includes one for the Insurance Officer as well, you need to have this taken to the "Data Entry" department at the RTO & an entry made in their system.
The RTO takes 2 working days to make the change in the Registration Certificate.
Total procedure was painless & took a total of 10 minutes at the RTO.

Last edited by im_srini : 26th January 2014 at 13:33.
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Old 26th January 2014, 20:26   #22
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Default Re: Bank NOC expired, want to transfer car. Now what?

Let me share my first experience at selling the car. Might add some value:

I decided to sell off my Palio to friend. The car was hypothecated to ICICI Lombard. While I was the owner, I had paid off the entire loan and got three copies of NOC, one each for Insurance, RTO and my reference.

I did not care of getting the Hypothecation removed from the RCTC, and around 6 months later the car was sold.

The friend of mine started the transfer formalities and that is when I realized, I had to get the banks name removed from the RCTC. Had to pay Rs.500/- to get duplicate copies of the NOC from ICICI Lombard. Thereafter the transfer process was smooth. My friend, who was a first time car owner decided against going through an Agent and was able to easily get the car transferred on his name.
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