MP News: Traders Face Harassment In Garoth As Price Of Pledged Gold, Silver Surges

Garoth (Madhya Pradesh): Traders from Khadawada village in Garoth tehsil submitted a memorandum to Garoth police station in-charge Harish Malviya due to harassment by gangs over pledged gold and silver.

The memorandum states that residents engaged in trading are facing intimidation from individuals who were customers 10–15 years ago. These groups, sometimes accompanied by women, have been visiting traders’ shops and homes, abusing them, creating disturbances and instigating fights, making daily life extremely difficult for the petitioners.

According to Section 1934 of the Madhya Pradesh Moneylenders Act, traders had originally given consent for the pledges. However, as the principal and interest amounts became equal over time, the pledgees refused to release the items.

However, with the recent sharp rise in gold and silver prices, these individuals have allegedly become dishonest and now they want their pledged gold and silver back. They argued that due to the recent hike in price of gold and silver, it more than covers the loan and interest amount. Traders claimed that they are being threatened and intimidated.

In the memorandum, they requested strict legal action and security measures to protect traders. Khadawada traders were present while submitting the petition.