VIRUDHUNAGAR: The District Crime Branch on Friday booked three persons, under the Tamil Nadu Prohibition of Charging Exorbitant Interest Act (2003), for allegedly demanding exorbitant interest from a Tamil film producer to whom they had lent money a few years back.
The accused have been identified as K Balasubramani, M Gopalakrishnan and his daughter Kavitha.
According to sources, producer P K Rammohan, a native of Rajapalayam, was introduced to Balasubramani, one of the shareholders of a Karur-based finance company, through his old acquaintance Gopalakrishnan.
Rammohan, who approached the duo seeking money to produce a movie, was given Rs 3 crore under the condition that he would have to repay as per the interest rates followed in banks. However, as the movie failed to earn a good profit, Rammohan was unable to repay the amount and interest. Following this, he assured to return the money by producing another movie but fell into further debt between 2021 and 2022.
"Rammohan managed to return Rs 7.5 crore to the opposite parties, who threatened him to pay Rs 16.78 crore. The accused allegedly forced him to take responsibility for the money that few others, whom Rammohan had introduced to the lenders, owed them,' sources added.