How can I proceed after my gold was auctioned without notice?
Hi , my gold has been auctioned off by rupeek and federal bank with out any notice . I used to get automated calls alone to say that the loan should be closed but no one informed about auction , on dec 24th i thought to close the loan opened rupeek app i was able to close it but i was in shortage of few thousands so i got it arranged and opened app on 26th to pay loan is no where found and i tried contacting them multiple times there was no response or details and finally on jan 13th they told me that my gold was auctioned on dec 15th only . With out any intimation well infact on dec 11th i paid interest and i tried to renew the loan but it said it got cancelled due to technical issue i still have screenshots and messages of it , how to move forward
You can file a complaint with the Banking Ombudsman and Consumer Court, as financial institutions must provide proper written notice before auctioning pledged gold. Keep all your evidence including interest payment receipts and screenshots to support your case.
You can file a formal complaint with Rupeek and Federal Bank, highlighting the lack of proper auction notice and your attempts to repay the loan, supported by screenshots and messages. If they fail to resolve the issue, escalate the matter to the Banking Ombudsman or file a case in the Consumer Court for deficiency in service and financial loss. Seek legal advice to strengthen your case.
Sir, you can send a legal notice to Rupeek and Federal Bank and can escalate the matter to consumer forums or the Banking Ombudsman. If these avenues do not provide a satisfactory resolution then you can consider filing a civil suit in court of law with the help of an expert lawyer who will assist you with the best course of action. For further legal assistance contact us on our helpline number.
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