This is with regard to GOLD LOANS
1. What are the laws applicable for GOLD LOANS (Specially by FC like Muthoot, Manapuram)
2. My friend had borrowed a sum of Rs.40,000/- , has not paid any interest ...now amount payble is 52,000/-, much higher than the value if the gold is auctioned , so if the Company auctions the gold suffer loss, can they initiate any legal action for recovery of remaining sum ?
