ਆਪਣੀ ਜਾਣਕਾਰੀ ਭਰੋ

VEHICLE LOAN NOC / HYPOTHECATION TERMINATION LETTER

__________, __________

To,
__________
__________

Also for production before the Registering Authority named in paragraph 4 below.

Dear Sir / Madam,

1. 1. THE LOAN

1.1 You availed a loan from __________, __________, of __________ (the "Financer"), under Loan Account No. __________ (the "Loan"), against hypothecation of the Vehicle described in paragraph 2 below.

1. 2. THE VEHICLE

1. 3. CLOSURE OF THE LOAN

1. 4. NO-OBJECTION

4.1 The Financer has no objection to the hypothecation over the Vehicle being terminated and removed from its Registration Certificate, and confirms that the Financer holds no further claim, charge or interest of any kind over the Vehicle.

1. 5. FORM 35 AND THE RTO PROCESS

5.1 This Letter is a covering confirmation and no-objection. It is not itself Form 35 prescribed under the Central Motor Vehicle Rules, 1989, and does not replace it — the Registering Authority requires Form 35 to be separately signed by both the registered owner and the Financer, or its authorised officer, before the hypothecation entry is removed. The Financer shall sign Form 35, or any further specific letter in the form the Registering Authority prescribes, on request.

5.2 A fee fixed under Rule 81 of the Central Motor Vehicle Rules, 1989 is payable to the Registering Authority for recording termination of the hypothecation. That fee is revised from time to time by central notification and is payable at the counter or through the Parivahan portal, and not to the Financer.

1. 6. WHAT THIS LETTER DOES NOT DO

6.1 This Letter confirms closure of the Loan and gives the Financer's no-objection to removal of the hypothecation entry. It does not discharge the Borrower from any obligation to the Financer other than the Loan, does not affect the insurer's own record of the Financer's interest in the Vehicle — which the Borrower should separately have updated with the insurer — and does not itself transfer ownership of the Vehicle to any other person.

For __________

Signature: ______________________________
__________