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Vacating hypothication from a defunct finance company
18-Nov-2023 (In Recovery Law)
had taken car loan July 2003 fm Gmac Tcfc Finance Ltd Coimbatore Br.Had paid throu 36 cheques ,duration chqs of Syndicate Bank Wellington Coonoor. Time passed Loanee army officer on transfers.12 yrs after, at Bangalore now and car in vintage state, to sell it off but being in HIRE-PURCHASE CLAUSE to vacate hypothecation entry. Financier co stands defunct.coimbatore office closed. 13 yrs case,Bank statement not possible due computerisation effective 2006.manual ledgers not accessible. surely no dues to company . RTO insists NOC from financiers co. what to do now? will affidavit do?
File an RTI application to the RTO enquiring on the procedure in such cases. This may provide you with some clarity on the issue.
If the reply states that in such cases a NOC from the financier is not required then you may proceed with your application for the NOC and use a copy of the reply to the RTO application.
You may also file a writ petition before the concerned high court to have the issue resolved. You should first however exhaust all other remedies available to you. Do ensure that your correspondences are in writing as it will go a long way in helping you in court.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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