| Address: PARASMANT JEWELLERS Shop No. 5, Manohar Mahal, Kopri Colony, Thane (East), District Thane, Maharashtra. |
Respected Sir/Madam,
I, the Complainant, Kiran Sudam Mhatre, state that on 03/05/2017 I pledged my gold ornaments with the Opposite Party, PARASMANT JEWELLERS, at their shop located at Kopri Colony, Thane (East).
Against the said gold ornaments, the Opposite Party granted me a loan amount of ₹10, 000 (Rupees Ten Thousand Only). A receipt was issued to me at that time, mentioning the estimated value of the ornaments as ₹12, 000.
At the time of the transaction, the Opposite Party agreed to charge interest at the rate of 2% per month.
Recently, when I approached the Opposite Party to redeem my pledged gold ornaments, they demanded interest at the rate of 3% instead of the agreed rate of 2%.
The demand for a higher interest rate than what was agreed upon is arbitrary, illegal, and amounts to unfair trade practice and deficiency in service under the Consumer Protection Act, 2019.
The Opposite Party is trying to take undue advantage of my situation and is refusing to return my pledged ornaments unless I pay the increased interest.
Therefore, I respectfully request this Hon’ble Commission to:
a) Direct the Opposite Party to calculate the loan amount strictly at the agreed interest rate of 2% per month.
b) Direct the Opposite Party to return my pledged gold ornaments immediately upon payment of the legitimate dues.
c) Award suitable compensation for mental harassment and financial loss caused to me.
d) Direct the Opposite Party to bear the cost of these proceedings.
I humbly submit this complaint seeking justice and protection of my consumer rights.
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