Muthoottu Mini — My Gold Loan auction by Muthoottu Mini

Address:

560016

Hi Sir/Madam

This is to bring to your kind notice that I hold 2 Gold loans from Muthoottu Mini Horamavu Branch, BANGALORE, Karnataka (GL nos bearing 485 & 486).

I this regard the last payment i made was in January 16 2016 post which I have moved to London on a job opportunity. Branch tried calling my number during early June and my wife informed the Branch manager that I would come back in September and close the loan by paying all outstanding loan amount.

When i approached Brach in first week of November to repay and close the loan, To my surprise Branch manager informed me rudely that my Gold is auctioned and he can't do anything about it. My wife literally went into tears and asked if he can let us know at least who bought and when was this auctioned, he replied saying I have sent a notice which came back as Door lock hence I wrote to Head office to proceed with auction.

When I asked a question that i have paid my installment in January2016 and ideally i should be given 12 months time before company takes a decision of auction.. he replied saying a new RBI rule has come and as part of which I had to proceed for auction. He did not even spare a thought to think that I have repaid more than a 1, 00, 000 rupees for a 1.2 lac loan.
When I asked for the auction details on when did this happen and how much was it sold for he did not even reply me properly. All that he said was I don't know we do not know the details of auction.
It was so really disappointing to me that I lost the below ornaments of my wife
1 no Necklace, 1 gold chain, 2 Kangan bangles and a Gold pendant.
The total gross weight in gms is 86.49 (GL No486) [Net wt : 69 gms)

Its not about the money that I lost the kind o incapable people that loot the normal citizens is what is causing more pain.

When I spoke to the head office (Cochin), the company's Auction manager spoke to me saying that he can arrange for the disbursal of the excess amount of the auction, which hasn't happened so far.

Now that I have moved to London for a project work and cannot make it to India in the next 4 months, request to treat this as a personal request and do the needful.

Thanks
Prasad Babu Pallamsetty

Attached : Copies of Loan agreements & payment receipts of Jan 2016