Life of a loan agrrement
peri venkata ramana
(Querist) 15 January 2012
This query is : Resolved
i borrowed car loan 3 lakhs in june2005,last instalment end in june2008.Ther is a dispute on small amount in the last instalment.i call there is deficiency inthe serviceby FC. FC claimed ahuge amount other than withheld amount of rs 3000/to 14000/ I approached the fc appeared in forum .The consumer forum in march 2009 , said i have to pay 3000/ plus small amount totalling to 4100/. The forumrejected the plea of firm .for addditional amounts . i immediately sent by cheque registererd post. The firm recived the cheque did not encash , Again firm sent notice sticking to its stand without referring to forum verdict.Iwas out of country for sixmonths.
ireminded the firm for NOC by reg post . Firm dnt respond .
i approached forum again in 2010.Again isent DD for the same amount in nov 2011to the firm . The cover was returned by postal authorities stating . "left" . Now that seven years have elapsed , and firm has no adddress now , how to get NOC for the vehicle .how long the loan agreement can be keptalive . will it not die by now ?
Pradeep Rohra
(Expert) 15 January 2012
You must have to file Consumer Complaint and describe all the history with list of documents including order of consumer forum and also produce white copy of Registered Post A.D. with Covering Letter . Also produce returned cover with "left" remarks After satisfying Consumer Court will pass nececssary order of NOC for vehicle.
Raj Kumar Makkad
(Expert) 15 January 2012
You file an execution proceeding before DCDRF, who shall get the notice published in the paper and then can proceed ex-parte to such company and may give the desired award in your favour which shall suffice for you to use as NOC at every place where ever it is desired.
ajay sethi
(Expert) 15 January 2012
you ought to proceed in execution before district consumer forum .
Devajyoti Barman
(Expert) 15 January 2012
Yes Ia agree with the views expressed above..
RAJU O.F.,
(Expert) 16 January 2012
Limitation for the loan document is 3 years from its execution. But fresh limitation of three yer period starts from the date of last part (re)payment. You have to obtain a specific Order from competent Court for directing the RTO to terminate the hypothecation on the vehicle in the facts and circumstances explained.
peri venkata ramana
(Querist) 17 January 2012
ithank allthe experts for their interaction and valuable advice.i am relly benefitted . thanks once again
ramana peri
