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CCB sleuths clamps down on high rate of interest Money lenders- sends shivers in their spine

August 1, 2020
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In a major operations, the Central Crime Branch Police on Friday raided the houses and offices of lenders who lent money at an exhorbitant rate of interests and recovered significant documents from their houses.

The CCB sleuths who have begun  investigations into the death of business tycoon Siddartha who committed suicide last year and also into the death of film.producer Kapali Mohan  has concluded that pressure by a few lenders, who lent them at an exhorbitant rate of interest forced the duo to take an extreme step. The investigation is going on in a full swing also considering death of several businessmen who also ended their lives like Siddartha. 

As part of their intensified investigation the CCB sleuths on Friday  raided a few houses of lenders. 

Accordingly houses and offices of Babulal Jain have been targeted, where they have recovered several blank bank cheque leaves and relevant documents pertaining to property, which were pledged for the loans. Houses of  Chethan Haran and Babulal Haran- the father son duo in VVPuram have been raided by the CCB sleuths.  It is also learnt that one of their relative is a kingpin of all these finance mafia.

Joint Commissioner Sandeep Patil’s Twitter account stating that the Economic Offence wing of CCB has raided the houses and offices of Money lenders further confirms the news. According to the CCB Police few more people’s houses and offices in Kumara Park, Jayanagar, Dollars Colony and other parts of the City will soon be targets.

These financiers are originally from Rajasthan and Gujarat, and many belongs to the  Jain community,  but are commonly known as Sindhi financiers as the Sindhi community was first to venture into finance sector. Many of these lenders have invested in multi crore construction projects in various parts of the country including Bengaluru, while at the same time they are thriving in Hawala trade. 

According to the Police sources, these people collect as high as 10 per cent to 20 per cent per month as an interest and the dely in payment results in huge compound interest. They also adopt several scary measures to recover the money they have lent, the borrowers will be forced to take an extreme step as it happened in the case of Cafe Coffee day Foubder Siddartha.

As the pressure  mounted on them, the lenders have now raced to their political gurus seeking asylum and protection from the sleuths. It is said that efforts are on to transfer some of the officers who are aware if the well knot nexus and might go hammer and tongs against the criminals. According to the Police a businessman by name Bhandari is negotiating with the Politicians to let them off the hook.

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