Srinagar: A Kerala based finance company Manupuram Gold Finance Ltd, having 3300 branches in operation allover India, with three in Srinagar has been forcing flood victims of Kashmir to pay interest on their gold for the month of September and October.
Pertinently, Valley was hit by worst floods in September this year.
The company according to its customers is in operation from last two years in Kashmir provides loan against gold.
The company has been forcing us to pay our dues and has threatened that our gold will be auctioned in case we fail to pay them dues, said a client, Irshad Ahmed to CNS adding that he along with his family has been putting up in a temporary shed as he lost everything in September floods.
The clients told CNS that they are ready to pay their outstanding but the company should give them some time. Time is not ripe for us to pay the dues. We have no source of income this time. The Company should provide us some time and should not auction our gold, Masood Ahmed said.
When contacted Branch Manager Manupuram Gold Finance Ltd told CNS that these are willful defaulters who are not ready to pay their principal and interest. The Company has already given them three months time to get their gold back but they are not willing to pay the interest, he said. (CNS)
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