In order to bring transparency and regularise the process of transferring ownership of autos to their present owners by financers and drivers, the State Road Transport Authority (RTA) is considering to take the whole process online. Presently, the RTA has no information as to when a vehicle is sold, and how many of those registered are in the names of their present owners
The suggestion to go online came after the RTA and traffic police officials held three meetings with auto unions and financiers over the past few weeks. However, the talks seem to have hit a roadblock as the money lenders were reportedly unwilling to take the RTA’s suggestions to regularise the ownership of the three-wheelers.
A senior RTA official said that both the auto unions and financiers want control of the autos plying on the roads, which is why they arbitrarily sell a three-wheeler from one owner to another, without transferring the title or ownership. “There is a provision to streamline this process, but the financiers are citing untenable objections,” he said, and added that taking things online might be able to curb the issue.
Going online the solution? According to the RTA official, it was contemplated that by uploading all details of the financier, auto registrations and drivers/current owners, data can be easily available. “But the question is how can we be sure that the financier is giving us correct details? Who exactly is a financier? It can be anyone, and if they are not registered with the government, then it will be difficult for us to identify them,” he explained.
As of now, the problem lies when an auto owner defaults on his payments to his financier or the financing company. The money-lenders seize the vehicle from the owner, sell it to another person unofficially, without transferring the ownership. This continues, and at times a vehicle is even sold four or five times, the official explained.
“The financiers wanted to act outside the purview of the Motor Vehicle (MV) Act. They suggested that they would provide surety about the autos being sold to drivers. As per law, if anyone is selling an auto purchased on finance, then the owner and the financier must be notified. But nobody is following it,” explained the RTA official. He further stated that a decision will be made soon on the issue.
KEEPING TRACK
1. Auto financiers do not transfer ownership while selling a vehicle in cases when the owner has defaulted on payments
2. Three-wheelers are sold from driver to driver unofficially, and in most cases vehicle is not registered in the owner’s name
3. RTA officials say that this makes it hard for cops to trace a driver or a vehicle in case an auto is involved in a crime
4. During meetings with auto unions and financiers, the latter were not ready to take up suggestions to transfer ownership
4. RTA officials say that getting all financiers and auto drivers to fill in their details online maybe able to solve this issue
5. Recently, the RTA began the verification process for 5,942 fresh applications in the city
6. They are part of the 20,000 new autos authorised to ply in the city, of which 11,000 were bought by drivers a few years ago
7. In 2015, till March, autos accounted for 55 accidents in Hyderabad out of the total 616.
