{"id":18673,"date":"2026-08-31T17:44:16","date_gmt":"2026-08-31T17:44:16","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=18673"},"modified":"2026-08-31T17:44:16","modified_gmt":"2026-08-31T17:44:16","slug":"gold-pledged-for-loan-stolen-in-bank-robbery-borrower-gets-gold-value-plus-rs-88362-for-making-charges-and-stones-rs-40000-compensation-how-he-won-the-case","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=18673","title":{"rendered":"Gold pledged for loan stolen in bank robbery: Borrower gets gold value plus Rs 88,362 for making charges and stones, Rs 40,000 compensation &#8211; how he won the case"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-133658353,imgsize-645603,width-400,height-225,resizemode-4\/bank-robbery.jpg\" alt=\"Gold pledged for loan stolen in bank robbery: Borrower gets gold value plus Rs 88,362 for making charges and stones, Rs 40,000 compensation - how he won the case\" title=\"The jewellery remained in the custody of the bank branch but was subsequently robbed, according to the bank\u2019s submission. (Image for representative purpose only)\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"The jewellery remained in the custody of the bank branch but was subsequently robbed, according to the bank\u2019s submission. (Image for representative purpose only)\">The jewellery remained in the custody of the bank branch but was subsequently robbed, according to the bank\u2019s submission. (Image for representative purpose only)<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>Imagine this case: You have taken a loan against your gold. That gold is lying with the bank. Then in a <a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/bank-robbery\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\" target=\"_blank\" rel=\"noopener\">bank robbery<\/a> the gold is stolen. Who is responsible for the loss? Who pays? In one such case, a man challenged the bank and won the case.<span class=\"id-r-component br\" data-pos=\"4\"\/>The issue was eventually considered by a consumer commission, which delivered a ruling on how the value of jewellery lost while in a bank\u2019s custody should be settled.<span class=\"id-r-component br\" data-pos=\"6\"\/>So, what happens if gold jewellery pledged against a gold loan is stolen from the bank? For a borrower, the loss can raise a bigger question than simply recovering the value of the gold. Should the bank pay only for the metal, or should the compensation also cover making charges and the value of stones?<span class=\"id-r-component br\" data-pos=\"8\"\/>A Tumkur resident in Karnataka faced this very situation and chose to challenge the bank\u2019s settlement.<span class=\"id-r-component br\" data-pos=\"12\"\/><\/p>\n<p><h2>Pledged <keyword id=\"640793\" type=\"General\" weightage=\"20\" keywordseo=\"gold-jewellery-stolen\" source=\"Orion\">gold jewellery stolen<\/keyword>: What exactly happened<\/h2>\n<\/p>\n<p>The Tumkur resident had opened two gold loan accounts with a Canara Bank branch in August 2017. He pledged two gold items against each loan account, according to an ET report. The jewellery pledged under the first account weighed 120.80 grams, while that under the second weighed 133 grams. He borrowed Rs 1,50,000 against each account.<span class=\"id-r-component br\" data-pos=\"15\"\/>The jewellery remained in the custody of the Canara Bank branch but was subsequently robbed, according to the bank\u2019s submission, the report said. After discovering that the gold articles had been stolen, the bank wrote to the borrower on July 26, 2018, offering to pay him the value of the gold.<span class=\"id-r-component br\" data-pos=\"19\"\/><\/p>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"20\">\n<ul>\n<li>For the first loan account, the bank valued the gold at Rs 2600\/g and paid Rs 1,56,033 towards the gold value, based on a net gold weight of 90 grams.<\/li>\n<li>Under the second loan account, the jewellery had a gross weight of 133 grams and a net weight of 85 grams. The Canara Bank branch valued the gold at Rs 2500\/g and paid the borrower around Rs 2,12,500.<\/li>\n<\/ul>\n<\/div>\n<p>The borrower, however, sought an additional amount to account for the jewellery\u2019s making charges and stone value. He claimed 20% towards making charges and 3% for the stone value, seeking a further payment of Rs 88,362.<span class=\"id-r-component br\" data-pos=\"22\"\/>He then approached the District Commission, alleging deficiency in service and unfair trade practice.<span class=\"id-r-component br\" data-pos=\"25\"\/>Jayesh H, Co &#8211; Founder at Juris Corp told ET that determining the appropriate compensation in such cases can be a matter of debate, particularly over whether the borrower should receive the market value, replacement value or the actual cost incurred by the pledgor.<span class=\"id-r-component br\" data-pos=\"27\"\/>\u201cThe bank\u2019s liability is almost absolute in such cases. As regards awarding, making charges etc., even if not from replacement value perspective, it\u2019s equally applicable as regards costs incurred by the pledgor.\u201d<span class=\"id-r-component br\" data-pos=\"30\"\/>He said a complainant should be in a position to establish the total costs incurred in relation to the jewellery.<span class=\"id-r-component br\" data-pos=\"32\"\/><\/p>\n<p><h2>What did the District Commission rule?<\/h2>\n<\/p>\n<p>After hearing the case, the District Commission allowed the complaint in July 2020.<span class=\"id-r-component br\" data-pos=\"35\"\/>It directed the bank to pay the additional amount claimed by the borrower, along with Rs 30,000 as compensation and Rs 10,000 towards litigation expenses, within 45 days.<span class=\"id-r-component br\" data-pos=\"37\"\/>The commission noted that the borrower had alleged that the bank had not paid the 20% making charges and 3% stone value and had refused to settle the remaining amount. <!-- -->After considering the facts and circumstances, it ordered the lender to pay an additional Rs 88,362, along with 9% interest from 29.08.2018.<span class=\"id-r-component br\" data-pos=\"41\"\/><\/p>\n<p><h2>Bank challenges ruling<\/h2>\n<\/p>\n<p>The bank then challenged the District Commission\u2019s decision before the Karnataka State Disputes Redressal Commission.<span class=\"id-r-component br\" data-pos=\"44\"\/>Canara Bank argued that it was not responsible for paying the additional amount contending that there was no deficiency in service since it had already paid the value of the 85 grams of gold.<span class=\"id-r-component br\" data-pos=\"47\"\/>\u201cThe complainant, without any documents, is demanding payment of 20% making charges and 3% stone value; the same cannot be payable. The net value of the gold was already paid, but the District Commission failed to appreciate the said facts and allowed this appeal,\u201d it said.<span class=\"id-r-component br\" data-pos=\"49\"\/>The bank further argued that the District Commission\u2019s order was not legally sustainable and that there had been no deficiency in service. It therefore asked the State Commission to set aside the District Commission\u2019s order.<span class=\"id-r-component br\" data-pos=\"52\"\/><\/p>\n<p><h2>Why the State Commission ruled in favour of the borrower<\/h2>\n<\/p>\n<p>The Karnataka State Disputes Redressal Commission rejected Canara Bank\u2019s appeal and upheld the District Commission\u2019s order. &#8220;We are of the opinion that the order passed by the District Commission is in accordance with law,&#8221; the State Commission stated.<span class=\"id-r-component br\" data-pos=\"56\"\/>The commission emphasised that when jewellery kept in a bank\u2019s custody is lost through robbery or theft, the bank has a duty to settle its value at the prevailing rates. <!-- -->This value, it said, should include both the making charges and the value of the stones.<span class=\"id-r-component br\" data-pos=\"60\"\/>The State Commission also held that the bank cannot insist on an invoice as proof that making charges had been imposed on the jewellery. It noted that making charges are levied on gold ornaments as a matter of course and are therefore payable.<span class=\"id-r-component br\" data-pos=\"62\"\/>\u201cIf the ornaments which are in the custody of the Appellant Bank were lost either by way of robbery or by theft, it is bound on duty on the Bank to settle the value of the Gold Ornaments at prevailing rates, which includes the making charges and also stone value,\u201d the Karnataka States Disputes Redressal Commission said.<span class=\"id-r-component br\" data-pos=\"64\"\/>Accordingly, the Canara Bank branch was directed to pay the borrower:<span class=\"id-r-component br\" data-pos=\"66\"\/><\/p>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"67\">\n<ul>\n<li>Rs 88,362 along with 9% interest<\/li>\n<li>Rs 30,000 as compensation<\/li>\n<li>Rs 10,000 towards litigation expenses<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/gold-pledged-for-loan-stolen-in-bank-robbery-borrower-gets-gold-value-plus-rs-88362-for-making-charges-and-stones-rs-40000-compensation-how-he-won-the-case\/articleshow\/133658220.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The jewellery remained in the custody of the bank branch but was subsequently robbed, according to the bank\u2019s submission. (Image for representative purpose only) Imagine this case: You have taken a loan against your gold. That gold is lying with the bank. Then in a bank robbery the gold is stolen. Who is responsible for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-18673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"The jewellery remained in the custody of the bank branch but was subsequently robbed, according to the bank\u2019s submission. (Image for representative purpose only) Imagine this case: You have taken a loan against your gold. That gold is lying with the bank. Then in a bank robbery the gold is stolen. Who is responsible for [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36"],"magazineBlocksPostViewCount":2,"magazineBlocksPostReadTime":5,"magazine_blocks_featured_image_url":{"full":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg",400,225,false],"medium":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg",300,169,false],"thumbnail":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bank-robbery.jpg",150,84,false]},"magazine_blocks_author":{"display_name":"admin","author_link":"https:\/\/koshalsambada.in\/author\/admin"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g","magazine_blocks_category":"<a href=\"#\" class=\"category-link category-link-31\">\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36<\/a>","_links":{"self":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/18673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18673"}],"version-history":[{"count":0,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/18673\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/media\/18674"}],"wp:attachment":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}