Issue of fresh registration certificate to the financier
Section 55 of Motor Vehicle Act,
1988 provides that, “ where the person whose name has been specified in the
certificate of registration as the person with whom the registered owner has entered
into hire purchase agreement, satisfies the registering authority that he has taken possession of the vehicle [from the registered owner]owing to default of
the registered owner under the provisions of the said agreement and the
registered owner refuses to deliver the
certificate of registration or has absconded, such authority may, after
giving the registered owner an opportunity to make such representation as he
may wish to make (by sending to him a notice by registered post acknowledgement
due at his address entered in the certificate of registration ) and
notwithstanding that the certificate of registration is not produced before it,
cancel the certificate of registration and issue a fresh certificate of
registration in the name of the person with whom the registered owner has
entered into the said agreement”.
From the above
it is clear that a financier can apply for a fresh registration certificate in
his name if the registered owner of the vehicle commits defaults in repaying
the hire money. It also empowers the registering to issue a fresh registration certificate
in the name of the financier, if it is satisfied that the vehicle was repossessed
by the financier for default of hire purchase installments, notwithstanding that
the certificate of registration is not surrendered.
The application
for fresh registration certificate has to be made in form 36 and Rs 100.00 is
the prescribed fee. On receiving the application, the registering authority conducts
an enquiry about the genuineness of the application. If the registering authority
is satisfied that the application for fresh registration certificate was made
by the financier after repossessing the vehicle, it will sent a notice to the
registered owner informing the fact that the application for fresh registration
certificate is pending and asking him to make representations, if any, in this
regard. After waiting for the stipulated time the registering authority will issue
a fresh registration certificate to the financier after cancelling the
registration certificate already issued. Normally, the objections, if any,
filed by the registered owner is not considered by the authority in its merits as
t there is express provision to issue fresh registration certificate. If the registered
owner intends to stop the process of the issue of fresh registration certificate he will have
approach the appropriate court of law and obtain necessary orders from the
court.
The validity of
the fresh registration certificate issued in respect of a non transport vehicle
shall be valid only for the remaining period for which the certificate
cancelled would have been valid.
Sir,
ReplyDeleteI would like to know the process of getting an R.C book for a repossessed vehicle. I was planning to buy one such vehicle from TATA Motors Finance through auction. While the vehicle I am interested in, is registered, it doesn't have an RC book. Please suggest the process and time frame. Btw, I'm buying this vehicle in Tamil Nadu (Salem)
The financier has to apply for fresh registration certificate as detailed in my article “issue of fresh registration certificate to the financier”. But as the vehicle is at Salem, the financier also has to apply for a no objection certificate from the concerned authority and it is advised that you may purchase the vehicle only after these processes are over, or after making arrangements to get these things done by the financier itself. Please see my article on no objection certificate which will be published within a day or two.
DeleteThank you so much! Sincerely awaiting your article.
ReplyDeleteThank you very much for your appreciation. Sorry for the delay in posting this reply
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ReplyDeleteലൈസന്‍സ് ഒരിടത് നിന്നും മറ്റൊരു ഓഫീസിലേക്ക് മാറ്റുന്നതിനെക്കുറിച്ച് പറയാമോ.?
ഞാന്‍ തൃശൂര്‍ പോലീസ്‌ അക്കാദമിയില്‍ നിന്നും ലൈസന്‍സ് എടുത്തു....എന്‍റെതാമസം തളിപറമ്പ ആണ്..അപേക്ഷ തളിപ്പറമ്പില്‍ ആണോ കൊടുക്കേണ്ടത്..?
Deleteലൈസെൻസിൽ ചെയ്ഞ്ച് ഓഫ് അഡ്രസ്‌ നോട്ട് ചെയ്യന്നതിനു ഒരു വെള്ളകടലാസ്സിൽ അപേക്ഷ കൊടുത്താൽ മതിയാകുന്നതാണ്. അപേക്ഷ യോടൊപ്പം സെൻട്രൽ മോട്ടോർ വെഹിക്കിൾ ചട്ടം നാലിൽ പറയന്ന രേഖകളിൽ ഏതെങ്കിലും ഒരെണ്ണം അഡ്രസ്‌ പ്രൂഫ്‌ ആയി ഹജരാക്കേണ്ടതാണ്. കേരളത്തിനു പുറത്തുനിന്നു എടുത്ത ലൈസെൻസിൽ കേരളത്തിൽ ചെയ്ഞ്ച് ഓഫ് അഡ്രസ്‌ നോട്ട് ചെയ്യന്നതിനു മുൻപായി ആ ഓഫീസിലേയ്ക്ക് എഴുതി ചോദിക്കുന്നതും അവിടെ നിന്ന് മറുപടി വന്നതിനുശേഷം മാത്രം അപേക്ഷ പരിഗണിക്കുന്നതുമായിരിക്കും
ReplyDeleteഞാന്‍ തൃശൂര്‍ പോലീസ്‌ അക്കാദമിയില്‍ നിന്നും ലൈസന്‍സ് എടുത്തു....എന്‍റെതാമസം തളിപറമ്പ ആണ്..അപേക്ഷ തളിപ്പറമ്പില്‍ ആണോ കൊടുക്കേണ്ടത്..?
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ReplyDeleteAm working for a Finance Company's dealership in Mangalore.
ReplyDeleteMy enquiry is about unregistered vehicles after financing.,
We had funded small commercial vehicles to econmically weaker sections without taking much documentation. The problem arose when they started defaulting and they have failed to register the vehicles themselves. We deliver the vehicles after temporarily registering and handing over all RTO papers as Form20, Sale Letter, Form 22 to the borrowers. What is the RTO process to auction these vehicles after repossession? My email id is bala.bhpc@arvindmotors.com. Please reply with your advice.
If the vehicle is not registered I think there is no provision in Motor vehivle Act which can which can be made use by a financier. you may please contact an advocate and do the need full.
ReplyDeleteസര്‍
ReplyDeleteലൈസന്‍സ് ഒരിടത് നിന്നും മറ്റൊരു ഓഫീസിലേക്ക് മാറ്റുന്നതിനെക്കുറിച്ച് പറയാമോ.?
ഞാന്‍ തൃശൂര്‍ പോലീസ്‌ അക്കാദമിയില്‍ നിന്നും ലൈസന്‍സ് എടുത്തു....എന്‍റെതാമസം തളിപറമ്പ ആണ്..അപേക്ഷ തളിപ്പറമ്പില്‍ ആണോ കൊടുക്കേണ്ടത്..?
സർ ഞാൻ ശ്രി രാം ഫിനാൻസിൽ നിന്നും ഒരു വണ്ടി ഓക്ഷനിൽ എടുത്തിട്ടുണ്ട്, അതിന്റെ ഫ്രഷ് RC ബുക്ക്‌ കിട്ടാൻ എത്ര കാലതാമസം എടുക്കും
ReplyDelete