Once you close the Auto loan, Bank would send by post
1) Closure Letter
2) NOC for RTO & Insurance Company
3) Form 35
Keep a couple of xerox copies of your Smart Card & item 1-3 handy for your documentation & use, until the new one arrives.
Following is the procedure for "Hypothecation Cancellation" at Vashi (Navi Mumbai) RTO (working days Mon-Fri ; 11am to 2:30pm)
1) Closure Letter
2) NOC for RTO (with name, signature & date at appropriate places)
3) Form 35 (with name, signature & date at appropriate places)
4) Copy of valid PUC (Pollution control for cars above 1yr from DOM)
5) Copy of valid Insurance Policy
6) Smart Card (buy plastic cover from Xerox shop and keep it in so that you could pin everything together)
7) 2 copies of Bank Confirmation Form (again from the Xerox shop) Day 1
- Staple all the above documents & Visit "Counter no. 6" to get the person check all documents (sits on extreme ride side while we are facing the counter)
- Once signed, go to "Counter no. 13" and get the no due seal signed
- Go back to "Counter no. 6" and get sign on Bank Confirmation Form
- Go to concerned Bank and produce the RTO confirmation form, thereby they would provide the "Confirmation Closure Letter" Day 2
- Pin 1) to 7) along with the CCL and go to "Counter no.6" Jr. Clerk, who would sign
- Go to person on extreme right and get his sign as well
- Go to Asst RTO for his sign
- Go to "Counter no.1" and pay Rs 250/- which is for
a) RC Delivery Charge - 50
b) Cancellation of Hypothecation -100
c) Dulpicate RC of LMV (Car) - 100
- Now again go to "Counter no. 6", to the person sitting in the center window. He will collect the documents and give you the copy of payment done, and ask to visit after 2 days. Day 3
- Go to "Counter no.6" middle window person and show him the receipt. He will verify details on computer and print "Owner Confirmation Letter", wherein we are asked to check all data and sign with name. (PS. Visit after 12pm only as before that he would not take any requests of HP cancellation
- Go to "Counter no.5" and pay Rs 350/- for New Smart Card. this will be sent by post to your address within 20 working days.
In short, you will need 3 visits to be made, and a charge of Rs 600/- for "HP Cancellation"
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