Need urgent help on transfer of ownership of car from Company to Individual

Hi all Carwale folks,

 

I need an urgent help and advice regarding the transfer of ownership of my car. I used to work for an MNC, and bought my car under the company’s car policy as I was saving some tax on it. I bought the car under the 3 year scheme, but left the company in 2 years and so I was required to pay the rest of the amount and buy the car, which I did. But I was planning to leave Mumbai and settle in Gujarat, so the company issued me a NOC for the same. But due to my lack of attention, I have not transferred the car under my name yet and it is still under company’s name.

 

Now it has been around 8 months and I have settled in Gujarat, but my car is still in Mumbai with my brother. I want to sell my car in Mumbai, but am confused as to how to go about this. Do I need to transfer my car to Gujarat (in which case I will have to pay Gujarat taxes and maybe some penalty) and then sell it, or can I still transfer the car under my name in Mumbai and sell it (in which case, what will happen to the NOC that was issued?). I have a friend who wants to buy the car at a very good price from me in Mumbai, but he has to do it within a day or two so I need some advice very urgently.

 

Thanks to all the helpers in advance.

You can still get the name transferred in Mumbai and sell it off there. Even if you want to bring it to Gujrat, first you need to get the name transferred and then you can get NOC for Gujrat.

You would be required to contact a good RTO agent in Mumbai and get this done. It should not be a big problem as its within the same city and should not be any issues. The only problem may be there due to NOC, if it has expired. However, you can get a fresh NOC by paying the amount. Was the NOC issues by RTO or by your company. If it was from Company then I guess it should be fine as it doesnt matter much. But as its 8 months already you may need to pay fine of some amount. You can get that confirmed from local RTO agent in Mumbai.

Also, as you want to sell the car, see if you can get the car transferred directly to the one who want to buy it. If its really possible, it will save the count of transfers and hence you or the buyer may get better resale later. However, again would strongly advise to get in touch with some local RTO agent in Mumbai to get this done. Doing yourself would take lot of time and money. You can give some extra 2-3K to agent to get it done, even in a day or two.

Those who claim that they know everything do not know what they dont know.

Hi Anshu, Thanks for the reply. The company did not agree to transfer the car directly to my friend, and so unfortunately I will have to transfer it on my name and then transfer it to my friend's name, which I know will increase the number of counts and might reduce the resale value later.

Regarding the fine, I was lazy and so did not transfer the car to my name and it has been already 8 months. So do you know what kind of fines will I have to pay? I was not able to locate any RTO agent who can assist, so do you know of any in Mumbai or do you know how to fine a good one? I am fine with giving some money to the agent if he can do all the work.

The NOC has been issued by the RTO (the company assisted me to get the NOC from RTO), and it has been around 6 months since the NOC was issued.

I'll appreciate your input, as well as other Carwale folks' inputs in this matter.

Thanks again.

Well I dont have any idea about any agents in Mumbai, but a way to find a good one is to contact the showroom from where the car was bought and ask the salesman for their RTO agents number. Then you can explain the problem and get the things done. This is one way I can think of, else if your friend or someone known to you knows any RTO agents...generally we are able to find by asking friends, friend's friends and so on 

Regarding NOC, if its already 6 months then most probably it has expired. And I assume the NOC was for Gujarat. If thats the case, then get the expired NOC cancelled as you want to sell the car in Mumbai itself, so NOC is not required. In case the NOC was for hypothecation, then you may need to get it issues afresh and get the hypothecation cancelled.

The fine is generally for late applying for transfers and all and is not too much..so should not be a big burder financially, but process wise its really a big pain. And so we need an RTO agent to take the pain and we pay him happily for taking our pains

I would request Mumbai members to suggest Rahul any RTO agent from Mumbai to help him out, if they know any.

Those who claim that they know everything do not know what they dont know.

I spoke to two RTO agents in Mumbai whose number I got from JustDial. Both of them told me that it will be a very cumbersome process as I don’t have a residence proof in Mumbai anymore (neither do I have a Mumbai issued Driving license or Mumbai issued Passport). They said that they can make some affidavit and do this, but it will be very tedious process.

 

Another thing I thought was if I can claim the taxes that I have paid in Mumbai on a pro-rate basis, than I will just get the car registered in Gujarat, and drive there for sometime and then sell it. When I discussed this with the RTO agents, they said that none of the RTO agents will do this as the RTO never refunds money and its just a very lengthy process without any outcome. So I don’t know what to do know.

 

Any suggestions?

 

 

Thanks,

Rahul

Thats is very true and really a matter of concern throught out the country. Really the result of monopoly of RTO officers.



If you dont have a address proof then really a cumbersome job. But then its India and there are lot many loopholes. You need to find them. Its not good suggesting anything openly in forum but just a hint that you said once that car is with your brother in Mumbai. So dont tell anyone that you are out of Mumbai and arrange any address proof in Mumbai for the address where your brother stays. And its not a big deal getting one these days. Also, as its your brothers house, even if by chance there is a cross-verification, you are safe for obvious reasons. This is one of the way but surely is not a legal way. Generally if you ask openly to RTO agents, they would say all these things, but if you talk in a diff way they will themselves suggest thousands options for some extra money. Thats why I said that try to find a known RTO fellow to you..its really easy getting it done this way. This is all I have to say. Hope your problem is resolved soon.

Best Wishes

Edit: Mods, there seems to be some problem with formatting in this post, if you can correct it for me..thanks.

Edit Remark:  Post formatted.

Those who claim that they know everything do not know what they dont know.