Loan against Gold motgage

Location/place: 101, plot no. 533, 12th.Road,Chembur , Mumbai -400071

Name of company/service: Muthoot Fincorp ltd. , near Golden Lawn Restaurant, R.C. Marg,Chembur, Mumbai 400071

Dear Sir ,
I have taken a loan after pledging my gold on 23-04-2011, my account no. being F10775 from Chembur branch of Mumbai 400071. I have paid interest upto August 2011 on this account.
As I was suffering from dengue, typhoid and was hospitalised and bedridden for almost 9 months, and hence I could not pay the interest on time or rather for a long duration. I accept the fact that it is my resposibility to pay interest on time and service my debt, but it is also the responsibity of Muthoot Fincorp Ltd. ‘s office. Muthoot Fincorp Ltd. has not informed me that interest payment is overdue and that I should make payment.
When I was a little well, I went to your Chembur office to pay the interest and also settle the account. To my utter disbelief, horror and shock, I realised after checking out on my own and without being informed by Muthoot Fincorp Ltd. ‘s executive that I was being charged interest at 33 % per annum, that too without informing and in a secretive manner.
After a lot of verbal argument and protest,I was told that unless I pay interest at the rate of 33 % p.a. my account will be shown pending and payment shall not be accepted. Ultimately after 2 hours they realised that I will not give up, they told me to write a letter of protest which they say has been faxed. Till date there has been no reponse to my protest or letter.
The world over the banks and other companies do remind about the due payments by sms , letter , couriered notice or by sending a representative at the provided address. Neither my address nor my landline phone no. or cell no has changed.
Muthoot Fincorp Ltd. is a public limited company or going public;and it is shocking that a public ltd. Co.’s branch office neither has a record of any notoices being sent (it has not been sent) or any sms alert and that such a policy is not being followed
I am being charged a penal interest without being intimated either by letter,sms, phone call or by person.
I have not signed any agreement with Muthoot Fincorp Ltd. which says that in case of default I shall have to pay at the rate of 33 %.
In case I had signed one also , it does not absolve Muthoot Fincorp of your responsibility to inform the borrower about overdue interest payment or default for a long time.
Your office has failed and hence you have no right to charge me any penal interest.
It amounts to Loan Sharking!!
I have written a letter to Muthoot Fincorp Ltd. ‘s Chembur branch on 18-05-2012 about this and have not got any reply.
I have sent an e-mail to their customer care and a Regd. A.D. letter to Muthoot Fincorp Ltd., but there is no response
I want to close this account without being charged any penal interest, but they are not entertaining my request.

Mukesh Pandya

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