- NOC is a document which proves closure of loan and the vehicle is now completely owned by the owner
- The owner has to take the NOC to the RTO to take the HC (Hypothication) off the RC book. HC symbolises that a vehicle is financed and not completely owned by the owner, cannot be sold until the financer has provided an agreement.
- NOC is valid for 90 days
- Re issuance of NOC is chargeable, 250 + Service Tax. For now, it works up to Rs. 295/-
- Can only be issued after LAN is closed (NOC is issued regardless of the fact whether LAN is matured OR settled)
- Proactively sent within 7 days of LAN closure

