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


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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