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  1. Narasimha
  2. RTO Registration & Tax
  3. Tuesday, March 13 2018

We bought seized car in financier auction and later we found that owner of car had put request to RTO for stop-transactions on the vehicle
In this case who has the powers ??owner or financier
Can we get FRC in the name of financier even though owner had put a stop-transaction request to RTO
  Hyderabad, Telangana, India
Admin Accepted Answer

The Financier has many legal clauses as mentioned in loan agreement

The Loan agreement is legally vetted with stamp duty and this all makes a legal formal contract with many terms and conditions in favor of financier. despite of owner put up a request on stop transaction - suggest to take help of Financier on issuing you necessary documents related to
> Court order for repossession and resale
> NOC from Bank to re-register car in your name
> Vehicle sale document as part of Auction

so that the RTO can transfer vehicle in your name

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