This is an important note for owners of leased vehicles who are getting their cars either cleared up or who are buying cars that were leased from bank earlier and have not been transferred on the owners name yet.
Punjab registration authority has lodged in a new rule starting from January that if i own a leased vehicle and get it cleared and have all the papers and head over to get the car transferred on my name, transfer will only take place if the NOC (No objection Certificate) is dated within the 30 days of the day i went to get it transferred.
For example, if my NOC has a date of December 20,2011 and i went to get it transferred today, they will accept it, but if the date of NOC given by bank is of December 1st, they will not transfer it instead i will have to get a new NOC from the bank because my NOC is older than one month if i count it from today's date..
Hope you get my point. This source is quoted after hours of khajal khuwaari from registration authority and filing an application in bank for re-make of a new NOC for my car which was already cleared on june 2011 but i went to get it transferred today....