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Financiers who.lend at an exhorbitant rate of interest back on Police Radar.

June 22, 2020
in Bangalore
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The Economic  offence division of Central Crime Branch (CCB) Police has re-opened the cases against those companies who lend money to business communities at an exhorbitant rate of interest.

The death of Cafe Coffee day founder Siddartha, film producer Kapali Mohan and others has still remained a mystery, While the media is still digging into various angles over their mysterious deaths, top sources in the Police department is now looking into the aspects of borrowing money from the lenders who lend at an exhorbitant rate of Interest.

The Police began a crackdown in this regard a couple of years ago, following several complaints by individuals, a few finance companies were booked for fleecing people. The investigation began in a big manner. ” Several people were questioned and  several financial companies from places like Kacheri road, JP Nagar and Dollars colony were raided. Huge sum.of money was recovered,” informed a highly placed Police Source. However for the reasons better known to them the investigation hit the road block.

However the CCB has now decided to re-open the case. Its first target being Pawan ahuja ,  owner of Ahuja Finance  has been summoned by ACP economic offence division. It has summoned Ahuja to appear before it for interrogation. In its notice, dated 17 June, 2020,  the officer has instructed Ahuja to appear before him on 18 June along with relevant documents . 

The notice mentions about a complaint registered in Vyalikaval police station, where he is booked under Section 44, 38 of Karnataka Money Lenders Act and section 3, 4 of prevention of Exorbitant Rate of Interest Act.

Ahuja has been told to come to the CCB headquarters with trading licence, co-operative society permission and building permission and relevant records to run the finance business 

Pointing out that these financier operate in the garb of cloth merchants and real estate businessmen, the sources said such finance are known as Sindhi Finance. Though some say that despite the fact that even businessmen from Rajasathan, Gujarat and Andhra Pradesh indulge in such financial business, the term Sindhi finance is a general terminology. 

Businessmen in Chikpet areas are of the opinion that officers joint commissioner Sandeep Patil and DCP Ravikumar and ACP Nagraj are known to these people as terror. 

Under the guidance of Commissuoner Bhaskar Rao they can put an end to such financiers and safe guard the small time industrialists, school owners , traders who are succumbing to suicides because of such people. Several.people from Chikpet, Balepet, Lalbagh Road, Akkipet and surrounding areas are already on CCB radar.

 

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