Sleuths from the Central Crime Branch (CCB) booked a couple for running an illegal moneylending business and charging exorbitant interest rate for many years.
The business came to light when one of the victims identified as Samreen Taj, 25, from Siddapura borrowed a loan of ₹1.6 lakh for her sister’s marriage in July 2021, and ended up paying ₹3.8 lakh as interest till May 2024.
However, when she requested them to clear the principal amount, the couple allegedly verbally abused and threatened her with dire consequences and asked her to pay the dues. The accused also filed a cheque bounce case against her after writing ₹4 lakh in the post-dated cheque which they had collected from her as surety.
The victim approached the Deputy Register of Co-operative Societies seeking help. Taking cognisance of the petition, Gangadhar, the Deputy Registrar of Co-operative Societies, filed a complaint with the CCB against the couple for running the illegal moneylending business.
Based on the complaint, the CCB registered a case against the couple charging them under the Karnataka Money Lenders Act, 1961, the Karnataka Prohibition of Charging Exorbitant Interest Act, 2004, and also under Section 504 (intentional insult to provoke breach of peace) and 420 (cheating) of the Indian Penal Code for further investigation.
Published - February 10, 2025 09:51 pm IST
