Mumbai: Consumer Forum Sides with Buyer in Gold Price Dispute, Orders Jeweler to Comply

Mumbai: The Central Mumbai District Consumer Disputes Redressal Commission has issued a notice to a well-known gold trader who had allegedly raised the price of gold at a high price on the date of ordering jewelry if the amount was not paid in full at the time of order. The consumer forum has ordered the trader to make a Mangalsutra at the rate booked by the customer three years ago.

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Mukesh Surve (name changed) ordered a famous jeweler in Mumbai to make 3.5 grams of gold Mangalsutra for Rs 28,500 per gram in 2017. At that time, Mukesh also told the gold trader that he could not pay all the money once. The gold trader verbally assured him that he would make the Mangalsutra only at the price on the date of booking and pay through the Beesi scheme whereas the consumer would pay a fixed amount of money each month to the gold trader. Accordingly, Mukesh approached the concerned gold trader with a Beesi of Rs 5,000 per month. Three years later, he had deposited Rs 1.75 lakh with the gold trader. On October 1, 2020, Mukesh closed the BC and asked for the Mangalsutra, but the trader refused. The trader said he would get the Mangalsutra at Rs 50,000 per gram instead of the rate of three years ago. 

Observations in this case:

The consumer forum rejected the trader's argument. The trader lured the customer to opt for the Beesi scheme by agreeing to make a Mangalsutra for Rs 28,500. The gold trader used his money for his business and made a profit. Observing that the gold trader had used unfair trading methods, the consumer forum ordered the gold trader to make Mukesh a Mangalsutra at the rate of Three years ago i.e. Rs 28,500 per gram.

1) After Mukesh showed the receipt, the trader agreed to impose a price of Rs 42,000 per gram. 

2) Mukesh lodged a police complaint after realizing that the businessman was robbing him. The police advised Mukesh to file a complaint with the consumer forum.

Impossible to give gold at the same price three years later

1) Mukesh filed a complaint with the consumer forum. The gold trader denied all the allegations. It is not possible to give gold at the same price after three years by paying a booking amount of Rs 10,000. The customer was asked to deposit the money within three months and take the Mangalsutra.

2) In the meantime, the customer opted for a Beesi scheme. The customer, who could not buy the Mangalsutra after three months, was given a one-year extension but was still unable to acquire it. The gold trader argued that his order was canceled.