Backing Out Of Rs 34 Lakh Bid, Toyota Fortuner Owner Bags 'VIP' Number For Just Rs 25,000

A resident of Ahmedabad, Gujarat, Ashik Patel won the “007” registration after making a bid for Rs 34 Lakh a couple of months ago in December last year. But now, he has withdrawn his offer and hasn’t paid for the number. The bidder did get the same registration number for his second vehicle after paying only Rs 25,000. The RTO says that at least 3% of the bidders change their mind and don’t pay for their registration amount. Patel, who had purchased the registration number for this Toyota Fortuner said that he could not pay the total amount of Rs 34 lakh. The reason for the failed payment was that the online system didn’t accept anything beyond Rs 4.5 lakh and there was no provision to pay the amount in cash to the RTO for the registration number.

The 28-year-old transporter had won the GJ 01 WA 0007 number for his newly purchased Toyota Fortuner. As mentioned above, his winning bid for the number was Rs 34 lakh, while he bought his new SUV for Rs 39.5 lakh. He later managed to get the same number for his second new vehicle for Rs 25,000, the base price of the registration number.

The Regional Transport Officer B Limbachiya stated that there are quite a lot of people who use the same procedure to secure high-value registration plates at their base prices. The officer also claims that bidders can transfer any amount online through the official website as well as accept cash payments. He explains that many people exploit the loophole in the system to bid for high-value registration plates and mark up the price. Later they cancel the bid after which the registration number is put on sale at the base price. Anybody who knows that the unique number is on sale can request it and only has to pay the base amount. This means the first vehicle that was used to make the bid online won’t be getting the same registration number, but anyone who knows the bidder and has information that the bidder failed to pay for the registration can apply for the same number at its base price.

The RTO explains there are many who back out after making bids, especially those who bid for Rs 1 lakh and more. Two-wheeler owners usually back out the highest. In a few cases, the RTO has observed that the backing out is done as part of exploiting a loophole to acquire the high-value registration number at a much lower price. The officials aren’t investigating or registered a complaint about the cases.

In India, registration numbers are non-transferable as it attached to the vehicle and not the individual. In countries in the west and middle east, registration numbers have a thriving business as they invest in high value and unique numbers which are then resold at higher prices.