Money lending and jewels-reg

Querist : Anonymous (Querist) 21 August 2026 This query is : Resolved
Sir,
I borrowed a sum of 4 lakhs from private money lender and paying interest regularly. After one year, i pledged jewels of 45 grams at the money lender separately and the lender assured me there is no connection for already borrowed money. Now while takeback my jewels, the lender refused to give the jewels and stated that unless repayment of borrowed money completed. The jewels need for family function and now i have money only for takeback of jewels. I also assured to repay my borrowed money in six month period and he refused. Please guide me in this matter.

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Quick Summary

A person borrowed money and later pledged jewels as separate security. The money lender is now refusing to return the jewels, demanding repayment of the loan first. The lender may be operating without a required license, and the borrower is seeking advice on how to retrieve their pledged items for a family function.

kavksatyanarayana (Expert) 21 August 2026
When you pledged the jewels, did you go for any agreement? A private lender shall obtain a license to lend money or pledge jewels. Do you know whether he obtained a license for lending money/pledge jewels? If he did not obtain a license from the District Collector you can report against him to the District Collector, who is the licensing authority.

Dr. J C Vashista (Expert) 22 August 2026
Whether the money lender has given receipt of jewels pledged?
Is there any written agreement ?

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