[ad_1]
Chennai, July 2
Claiming a default of Re 1 in repayment of a loan, a cooperative bank here reportedly refused to return 138 grams of gold jewelery promised for the loan, prompting the client to move the Madras High Court for Relief
In a petition, C Kumar, a member of Pallavaram's Central Branch of the Kancheepuram Central Cooperative Bank, said he ran from post to position for the past five years to recover jewelry worth about Rs. When the plea was heard on Friday, Judge T Raja recorded the findings of Petitioner Sathyan's counsel and ordered the government attorney to obtain instructions from the authorities within two weeks.
The petitioner claimed to have taken a loan of Rs 1.23 lakh from the bank by promising 131 grams of gold jewelery on April 6, 2010.
Meanwhile, he took two new loans totaling Rs 1.65 lakh by promising a total of 138 grams
On March 28, 2011, he entered into the first loan by settling the amount with the interest and redeemed the 131 grams of jewelry
He repaid the other two loans shortly after, but the bank refused "
The applicants' counsel, Mr. Sathyan, stated that even after repeated requests from the petitioner, the bank refused to release the jewelry or accept the payment of Re 1 waiting for each request.
The applicant submitted that he had doubts about the safety of his jewels. PTI
[ad_2]
Source link
