motor vehicle act question-for legal people
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My bhaiya sold his vehicle last month on 13th. insurance was expiring on 16th. ncb % in his insurance=25% .he asked for the ncb letter from the insurer and they gave him one after more than month but they have mentioned the ncb as 25% and not 35%. Their reasoning is that as per the Motor vehicle act if the sales happened after 16th then they would have mentioned 35%. Is this information correct?If he had sold his vehicle after 16th then he would have become bound to get the insurance done for the buyer or convince him to pay some part of it. The insurance was renewed at 35% in his name only as the rc transfer takes time. The insurance was renewed with some new insurer. The new insurer might give him a 35% ncb letter but he can’t approach them as he is not in touch with the buyer..
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As 3 days left in policy at the time of taking letter, they can’t issue 35% ncb letter.
but sir if he sold after 3 days then he would have had to pay for the insurance himself.
Does the law say that 25% ncb will be entitled in cases like this?is this ncb valid on new vehicles only or on second hand also?
What NCB was there on the policy, that Ka letter you will get….. You should have renewed it at 35% NCB to get a 35% Ka letter
pl help people