Legal proceeding
Anita Singh
(Querist) 18 December 2012
This query is : Resolved
dear expert,
i had taken a loan from a finance company against gold and after few months i renewed my loan account due to my econimical problem couldnt pay the my loan so i request for time to pay the loan from the finance company but without intimating me finance company auctioned my gold but i am ready to pay the laon ammount as well as the penently i want my gold back from the company i already sent an legal notice to the company but no reply received now i want to file an complaint in the court under which section i can file the complain or in which court.
ajay sethi
(Expert) 18 December 2012
there must be a clause in your agreemetthat if you fail to pay loan installments on time company can auction your gold . read clauses carefully . contact a local lawyer
R.K Nanda
(Expert) 18 December 2012
take help of local lawyer.
Nadeem Qureshi
(Expert) 18 December 2012
Dear Querist/Anita Singh
first of all you have to go to police to file a criminal case/FIR against the company u/s 405,406 IPC and if they are not responding you have right to file a criminal complaint u/s 156 (3) of Cr.PC or u/s 200 of Cr.PC along with legal notice and relevant documents.
Feel Free to Call
Raj Kumar Makkad
(Expert) 18 December 2012
This is purely a civil matter so there is no scope to go to police station or file criminal complaint as advised.
Generally such clauses are added in the agreement that if loanee makes default in repayment of loan amount, the mortgagor shll have a right to make auction of mortgaged property and recover its money.
Even then serve a legal notice from your lawyer and then do next action accordingly.
