Legal Question in Consumer Law in India

hello, I have taken loan against gold from Muthoot finance because i was un employed for long period and since long time i am unable to pay interest and now muthoot called me and sain i will have to deposit at least half of interest ie Rs. 1,80000/- for stoping them to stop auction of my gold by tomorrow 7th June 2013, This is impossible for me to arrange this amount. I even told them i can sell some part of my gold to you(muthoot) but they refused that option and said it is posible only when deposit the interest. Pl guide me how could i buy some more time from them...



Asked on 6/07/13, 9:45 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
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Dear Anil,

You are left with no other choice but to pay the interest amount demanded, else risk that some amount of gold to be sold.


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Answered on 6/08/13, 5:25 am

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