Hello,
I had pledged 2 gold jewels with one of a pawn broker in KK nagar for a total of Rs. 62,500. The details are:
Chain - 24.900 Gms - pledged for Rs. 42000
Chain - 11.200 Gms - pledged for Rs. 20500
I had paid a total of Rs. 36,500 interest in order to get it back during the month of July, 2014. He received only the interest from me saying that he will get the principal once delivering the jewels.
After that I'm following-up with him regarding this for the last 4 months and now he is saying that, He re-pledged many of his customers' jewels with Sriram Finance and they are not allowing him to release my jewel alone.
Now he is asking me for an additional Rs. 8,000 (+ principal) in order to get me a new jewel from whole sale market or he will repay Rs. 20,000 alone to me (whereas I have paid one lump some of Rs. 36,500 interest itself.)
How do I proceed with this legally. I have the proofs for all the payments I have made so far.
Thanks in advance for your advice.