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SARAVANAN (Sr.Merchandiser)     16 July 2014

Exorbitant interest

Dear Sir / Madam, 

My name is saravanan & i am living in salem tamilnadu. I year back i have received amount Rs.1,00,000 from the private finance with agreement of 3 years return back . We have orally discussed the interest rate by Rs.3/ 100. but now he is asking Rs.5/100.  as of now i have some financial problem i couldn't able to pay the interest last 5 months. Now the finance person scold in bad words & put a lock in to my home when we are not in the home town. Once we come back & saw my house was locked with welled. immediately i have gone to police station & complaint. even though the police officers convenience to us only" You have to return back the money". I said yes i agree i will pay the money but i need some time but the finance person need the money immediately. 

I need your valuable advice & i decide to file a case to him with act of Exorbitant interest rate. 

 

Thanks & regards, 

S.Saravanan



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 1 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     16 July 2014

They are not supposed to lock the doors. It is criminal tresspass. File a private criminal complaint in local criminal courts. take help from lawyer.The Karunadu Rakshana Vedike has alleged that some financial companies offering gold loans were charging exorbitant rates of interest.Join with them and approach consumer forums nearby.


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