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Can someone sell vehicle which does not have an NOC
21-Jul-2023 (In Civil Law)
I want to sell my bike to my friend. The problem is the bike doesnt have NOC and the bike is hypothicated in favour of one of private finance company. The loan period was over in 2008 and the small amount EMI missed to pay to close that loan. The private company is asking those EMI payment with 9 years interest i.e. till 2017 to provide NOC. I informed the same to my friend and his ready to buy my bike without name transfer. Shall i goahead and sell my bike? In case if he misused or any accident happens will I get any trouble? Shall i send an email to him saying that I sold my bike to you for RsXXXX amount on XXXX date and your are the complete responsible of the bike... Is this valid? Please help.
Sir, with out a noc if your friend buys the bike it not the problems, if any accident and other misuse done by using the bike, the blame will be on you and you will be liable for the damages/ accident has without noc you can't transfer the registration or the insurance will still be in your name, you can request the private company for discount and settlement amount.
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Adv. Arvind Singh
Bangalore | 100+ Answers
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