Sunday, 5 February 2012

Procedure to Remove Hypothecation for Vehicles post Loan closure(Mumbai MH-02, Andheri RTO)

Update April 2014 : A New multistorey  building has come up at Andheri RTO and the C/D blocks are now changed to 2nd and 1st floor respectively. Also the charges are increased from 100Rs to 250Rs. Kindly take a note.


Recently i managed to get Hypothecation removed for my Vehicle from RC Book.I searched google for some info on the procedure but did not manage to get much info at one place.  My initial thoughts to get this done were that it will be a cumbersome process since it involved going to the RTO and dealing with government employees...but as it turned out, the procedure is simple and straightforward without having to shell out any extra cash :).
Since my vehicle Number is from MH-02 series, Andheri (W) RTO was involved. Below are the prerequisites and procedure for the same.

Required Documents.

1. Bank NOC Certificate
2. 2 copies of Form-35
3. Valid Insurance Copy (Xero)
4. Valid PUC (Original or Xerox)
5. Original RC Book

In case of car loan from ICICI bank, the required documents can be obtained from them via phone banking. Just provide the loan Number and they will post (Or courier) the required documents to the registered address. They send across 3 below documents,

1. NOC Address to RTO.
2. Two copies of Form-35(Signed and Stamped).
3. NOC addressed to Insurance Company for Removal of Hypothecation from Insurance copy.

Procedure
1. Visit RTO Andheri (W) between 10:00AM to 2:00 PM on any Weekdays. (1 & 3rd Saturday are also working)
2. In case Form-35 is not received from the Bank(Signed and Stamped), blank form is available at the enquiry Window(One page has two copies, top and bottom).
3. This blank Form-35 needs to be filled and sign + Stamp obtained from the loan issuing bank.
4. Next Proceed to "C" Block (Back Side) where there are multiple counters  arranged as per registration Number of Car like MH-02-AA, MH-02-AB etc). Look for the one with starting series of your car registration Number.
5. Climb the step and handover below to the official(who we will call SPOC) at the window.
    a. Original RC Book
    b. Two copies of Form-35 (Signed & Stamped)
    c. PUC (Xerox or Original) . In case original is given the same is returned back (In step 14 below).
    d. Xerox of Insurance Copy.
6. The official will verify all the documents, arrange them in particular sequence and then direct you to complete below steps (7 & 8)
7. Get Rectangular Stamp from Block D (Front side) on the document. This is a 3 step process, first person at Block D will verify the car Number if the same is not stolen, next he will pass on to next person who will put Stamp and third person will sign the same.
8. Next move to Block "C" counter 13 for Payment of 100Rs which is the fee for Hypothecation cancellation. On paying the same, the official will provide you with a Recipt of the same.
9. Go again to the official(SPOC) who had directed you to above two steps (7 & 8), handover the documents and show the 100Rs Receipt. He will verify the same and tell you to wait for 15-20 Mins.
10. After 15-20 Mins he will call out your name and attach one more piece of paper to all your documents, on which you have to write your Mobile Number. He will next ask you to get sign of 3 persons on this piece of paper. (Auditior, Head Clerk and Dy RTO. All 3 persons sit inside block "C" only).
11. Go inside Block "C", and get the required signs, ask any one and they will guide you to the relevent guys. The Dy RTO sits at the entrance of block "C" in a cabin of the LHS.In case the Auditor is not available, then the Head Clerk will sign in his place. (All 3 offcials sign without asking any questions :) )
12. In case successful in getting all the 3 signs, then head back to the person (SPOC) and submit the same.
13. He will verify the signs and ask you to come in 2 days time to collect your modified RC Book by showing the 100Rs Receipt. (With Hypothecation cancelled)
14. After 2 Days show the 100Rs Receipt to the same Guy(SPOC) and collect your modified RC Book (And also the Original PUC in case same you had submitted in step 5 above).

Hope the above helps and you are able to get the Hypthecation removed in a smooth manner. It is a simple procedure and can be done without any Agents help :) ..