Team-BHP > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 3rd September 2010, 11:59   #1
BHPian
 
MandarMax's Avatar
 
Join Date: Apr 2010
Location: Pune
Posts: 247
Thanked: 847 Times
Default Do I need an NOC from my financer?

Hello,

I bought my car (Ford Fiesta) in September 2006. I had taken a loan of Rs. 3.5 lacs from Kotak Mahindra for four years. Now I have fully paid the loan at the start of this month (Sep 2010), so I wanted to get an NOC from them. So I called their call center and found that they have my agreement number on their record, but they don't have any of my car details (chassis no, car registration details etc.). The lady from their call center told me that I need to send all the details to her like chassis no, registration number and a photocopy of my RC which should have a stamp indicating hypothecation to Kotak Mahindra. When I looked at my car registration certificate (RC) closely I found that there is no such stamp, in fact there is nothing of that sort written on the RC, the section "Subject to HPA/HYP/Lease Agreement with" is blank. Please see the image / attachment.

So the question is - Does this mean my car is not hypothecated to Kotak Mahindra? Do I need to get the NOC from them at all? What purpose would that NOC serve?

Thanks in advance.
Attached Images
 
MandarMax is offline  
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright 2000 - 2020, Team-BHP.com
Proudly powered by E2E Networks