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Thread: Hypothecation Removal On RC SmartCard In Mumbai

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    Hypothecation Removal On RC SmartCard In Mumbai

    Hi, Just start a new thread so we can have the prudent step process for the removal of the mortgage balance. My question is (part of Mumbai RTO). What documents and forms should I charge to the banks (other than the vehicle documentation submitted initially, after paying the loan in full? Once the documents are received, the forms are filled for the elimination of the advance? Once the documents are sent to the RTO issuing a receipt. If this process is carried out by an agent, can we expect a receipt from the agent. Does the RTO to issue a new smart card RC after the mortgage is removed. If yes, how long does it take to get the new smart card?

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    I can answer half the question on the basis of my two-wheeler loan closing. The bank must send a letter and a Form 35 (I'm 90% sure of 35) after having paid the loan in full. Normally sent to the address specified in the loan document. If you do not, you can request it and the bank will reissue a nominal cost. I understand that banks cannot refuse your request. Interestingly the letter is only valid for 3 months and you have to do what is necessary at this time.

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    i10
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    I went to get the NOC from a finance company for a 96 for my kid’s sky friend. Those took 20 days of work and took no charge. I owners took the letter from that and gave it to me. The car is in your name now, after the owner gave the signature in the Form No. 35 which was issued by the bank. RTO officials the verification process of the records (the vehicle you want / expect from duties, taxes, etc) and tell you to get ARTO approval. ARTO Post approval, you have to pay cancellation fees and double Condition of CR rates.

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