Scam or fraud: Gold auctioned without any information

Submitted by:  Sandeep Samuel

Complaint Details:
I have pledged a gold item at MUTHOOT FINANCE LTD Balanagar 2 Hyderabad on 19/12/2014 for an amount of (Muthoot Super Loan customer id:

. Ever since I have not received any remainders to pay the interest and even i have not paid. When i went to withdraw the item on FEBRUARY 2016 they said it was already auctioned I asked them how can they auction it without informing me and they said they called me so many times and also send letters to my address. I told them i haven’t received any calls nor any letter.

Later in the month of September 2016 i received a cheque for Rs.347/- at my given address. Again i went back to the branch and spoke to the Manager Mr. Dinu Thomas and asked him to check the status of the mail send to me earlier. They had all the mails in their branch and the reason for return was “INCOMPLETE ADDRESS”. This is purely a mistake made by MUTHOOT FINANCE LTD and carelessness from the manager. He admitted to his mistake and told me he would return the amount to me by cash and told to deposit the cheque After a week when i contacted Mr. Dino he asked if i deposited the cheque and when i said yes he immediately said “i wont pay anything do what u want to do”.

I have not deposited the cheque yet and i want the responsible person to look into the matter at the earliest and return my item or refund the whole amount. It is my WEDDING RING so i’m not letting it go just like that. If no action is taken then i will be forced to file a legal notice and complain to RBI as well.

Thanks and regards

Sandeep Samuel