HYDERABAD: Cyberabad police, on Friday, arrested three persons in connection with the suicide of a person named M Chandra Mohan at Gundlapochampally, who was allegedly harassed by instant loan app companies.
The accused persons worked for three separate firms, and two of these were run by Chinese and Bhutanese nationals, the police found.
They have been identified as Hemanth Kumar, director of Flash Cash Private Limited at Gurgaon, V Manjunath, HR manager of Juss IT Technologies in Bengaluru, and Abdul Lauk, manager of TGHY Trust Rock Private Limited in Bengaluru.
They used to work for instant loan apps, such as Rupee Plus, Kush Cash, Money More and Cash Map.
Deposits valued at Rs 65 lakh in seven bank accounts operated by these firms have been frozen, and laptops and mobile phones have been seized from the accused, said DCP Balanagar PV Padmaja. She said these companies had several bank accounts for loan disbursement and repayment. In addition to the interest of up to 35 per cent, they also imposed huge penalties on loan defaulters, she said.
“We will serve notices to NBFCs and their managing directors. We will also reach out to Google, urging it to take down these loan apps due to their criminal activities,” Padmaja said.
Police found that Chandra Mohan, who died by suicide on January 2, had availed loans from Pan Ban, Cash Map, Red Corp, Rupee Plus, Kush Cash, Fix Cash, Rupee Instant, Money More, Home Credit, Cash Go and Cash Seed. He had paid them around Rs 2 lakh as repayment.
However, as he was constantly harassed for more money, he took his life, following which a case of abetment to suicide, extortion and cheating was registered at Petbasheerabad police station.
Abetment to suicide
Police found that Chandra Mohan, who died by suicide on January 2, had availed loans from Pan Ban, Cash Map, Red Corp, and other apps. He had repaid around Rs 2 lakh to the firms, but as he was harassed for more money, he took his life. A case of abetment to suicide was registered.