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Moneylender Held For Charging High Interest

Central Crime Branch (CCB) police have arrested a man for lending loans at high interest rates in Chandra Layout police limits.

Published: 22nd July 2015 05:35 AM  |   Last Updated: 22nd July 2015 05:35 AM   |  A+A-

BENGALURU:Central Crime Branch (CCB) police have arrested a man for lending loans at high interest rates in Chandra Layout police limits.  Balu, a resident of Nagarbhavi 2nd Stage, Vidyagiri Layout, was arrested on Monday following a complaint of harassment. 

The complaint filed by one Arathi Rajesh stated that she had availed a loan of Rs 8 lakh from Balu in 2013, for which she had to affix her signatures on three blank cheques and two stamp papers. She had been paying Rs 200 every day to Balu as interest. She had already paid Rs 5,27,350 as interest and a premium of Rs 50,000, Arathi claimed in the complaint.

When she could not pay the interest for a few months, Balu insisted that she pay Rs 13 lakh, including the interest she had failed to pay.

Police have seized a diary in which the loan amount was entered. Police said Balu had lent loans totaling Rs 25 to 30 lakh at high interest rates to several people.

Police have asked people to alert them about people lending loans at high interest rates and have assured not to reveal the names of the complainants.



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