No, one cannot sell the commercial vehicle unless the loan account has zero outstanding.
For selling a commercial vehicle taken on loan, one must first repay the entire loan amount and then get a no-objection certificate (NOC) from the bank or NBFC. Only after receiving the NOC can anyone sell off the commercial vehicle.
No, one cannot sell the commercial vehicle unless the loan account has zero outstanding.
For selling a commercial vehicle taken on loan, one must first repay the entire loan amount and then get a no-objection certificate (NOC) from the bank or NBFC. Only after receiving the NOC can anyone sell off the commercial vehicle.