DINDIGUL
Sending a strong message, the Chief Judicial Magistrate Court here had punished a financier, who had charged exorbitant rates of interest, to undergo nine years in prison. A co-accused in the crime was also ordered to serve jail term for three years.
The landmark judgement has come as a big relief to the gullible borrowers.
In 1999, Santhanam of Mettupatti near here had borrowed ₹ 5 lakh from Babu alias Abu Sakman of Nehruji Nagar for his hotel business near the bus stand. While receiving the money, the borrower had furnished a blank cheque and signed in promissory notes.
In 2002, though, according to the complainant, he had returned ₹ 9.08 lakh to the financier, he kept on sending messages that he still owed money. The financier, with the help of his relative Rowther Naina of Pudukottai district, had deposited the blank cheque issued by Santhanam, with ₹ 4.20 lakh. It was dishonoured due to insufficient funds. Citing that Santhanam had cheated, the financier lodged a complaint.
However, submitting valid evidence as per the laws, when Santhanam approached the District Crime Branch police, they registered a case against Abu and Rowther.
The court, which tried the case, delivered the judgement on Friday directing the financier under three different sections for three years each totalling to nine years with a fine of ₹ 15,000. In the event of non-compliance of the fine, the guilty shall serve three more months in jail. Also, the court directed the other accused to undergo three year jail term.
Hailing the judgement, consumer activists said that the police should enforce the laws against the usury practised here against gullible persons. Also, they urged the courts to dispose of the cases within a time frame so that it could act as a deterrent against the usurers.