Friday, December 30, 2016

How to Cancel Vehicle Hypothecation (Tamil Nadu)

I closed my car loan earlier this year (around April actually!) and have been meaning to get this done for a while. But have been putting it off expecting it to take a long time. Finally today, as the year is almost coming to an end, I decided to just get it over with no matter how long it took. And it didn't much time at all!!

I wanted to get this done myself after finding out earlier this year that a visa agent was charging Rs.11,000 when I could do it myself for Rs.8500!

After checking with a few friends, I found that many are yet to complete this process, or went through agents for this. But we can do this ourselves!


So here are the steps:


When does this have to be done


    • When the vehicle loan you've taken is paid off to the bank
    • And the bank has acknowledged the same by giving:
      • No Dues Letter
      • Form 35 (2 Copies)
      • Letter acknowledging the request for Hypothecation

Documents required to be submitted:

  1. Registration Certificate - RC Original (Keep a copy for your car or bike)
  2. Form 35 from bank- both copies (Original) (Notice of termination of agreement with the bank)
  3. No Objection Certificate - NOC from the bank (Original)
  4. Copy of Current Insurance Certificate of the vehicle
  5. Copy of Pollution under control Certificate (Pollution certificates can be obtained from petrol bunks close to the RTO mostly, some others as well

Fees:

Rs.125 (in 2016)


Steps:

  1. Data Entry
    • Go to the data entry counter and tell them you need to cancel hypothecation
    • The person will check if you have all the documents required
    • They will update the details of your current insurance
  2. Cash Counter - Payment
    • Pay at the cash counter (closes at 12:30 pm)
    • When you tell the person it's for cancellation of hypothecation, they will tell you how much
    • The receipt will have 2 halves
  3. Sticking
    • Stick the left half receipt copy to the first copy of the Form 35
    • Check with people at the counter for exactly how if required
  4. Tapal / Postal Counter
    • All the documents have to be finally submitted at this counter
      • Original RC
      • NOC Certificate from Bank
      • Form 35 with receipt stuck
      • Second Form 35
      • Copy of Insurance Certificate
      • Copy of Pollution Control Certificate
    • Keep the other copy of the receipt with you
    • Make sure you have a copy of the RC for your vehicle during this process
  5. Collect updated RC in 5 working days (They will give you the date and time)



I went on a weekday morning at 11:00 am.

The whole process took less than half hour, the only place I waited a while was at the cash counter queue. 

Everyone's really helpful. There were 2 people at the entrance till 12:00-noon giving people directions. 


That's all!

Pretty darn simple :)


Wednesday, December 7, 2016

Going the Distance

Long ago, back in simpler times - when life was in black and white; when people said "Trust is essential in any relationship" I used to think - "D'uh.  Isn't that obvious!" I used to wonder why they bothered stating simple facts.

Back then, when people remarked "Blood is thicker than water" - I wondered why? I loved my friends as much and would rely on them for anything.

When people quoted; "If you want to travel fast, go alone. If you're travelling far, go with someone" I used to think, go alone, and then you'd reach soon anyway.

So.

I decided to try out how it would be to travel with someone. To see if the distance was reduced. And this experiment helped me learn a little bit more about trust.

You see, the "Travel with someone to shorten distance" has a catch. You need to be able to either completely trust that person/ those people, or you should just not care at all. In both these extreme scenarios, you might just enjoy the journey, and it probably won't seem as long.

And Trust - oh how much packed into that little word!

When you trust that someone is going to feed you, or that someone is looking for food with you, you are willing to go along with them till you get it. But if suddenly they say "I wish I could get you food. I'm not certain we will find food" then the hunger that was tucked away neatly will come out roaring. Unwilling to be pacified by the trust that someone may or may not be helping you out. Because you see, you are suddenly not in the journey together. Their motive or their destination is probably different from yours. Even if the destination or the purpose were the same, even if, with all good intentions they do want to find the food with or for you - the commitment that was once taken as granted is no more there.

This is why they say blood is thicker than water. Because family, even if they had different destinations, they would still ensure you reach yours. So you can safely go along. That commitment is a given to any who enjoy a close a loving family. What about friends? Yes. We find those gems, and they become like family as we go along.


If you want to travel fast, go alone
If you're not travelling far, and you're in no hurry, find random company
If you're travelling far, then go with someone you trust and can become as good as your own blood.