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Private moneylender who had threatened to kill borrower after recovering thrice the loan amount lent, arrested

by Team Deccan Express
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Pune: Deccan ExpressPune Crime | After collecting Rs 3 lakh 14 thousand on a loan of Rs one lakh, a private moneylender forcibly took possession of two two-wheelers and demanded Rs 70,000 from a lender and threatened to kill him. The police have arrested the moneylender identified as Sandeep Dattatray Bhagat (36), a resident of Jai Bhavani Nagar, Paud Road. (Pune Crime)

 

Prasad Shivram Parab (50), a resident of Jai Bhavaninagar, Paud Road has lodged a complaint at the Kothrud police station.

 

According to the police, Prasad Parab is an electrician. He had borrowed Rs 1 lakh on a monthly interest of 10 per cent in September 2019 from Sandeep Bhagat. He deducted a month’s interest of Rs 10,000 and gave Rs 90,000 to Parab. The complainant returned Rs 3 lakh and 10 thousand rupees as principal and interest and a fine of Rs 4,000 i.e. totally Rs 3 lakh 14 thousand. Despite this, Bhagat took away two two-wheelers of Parab by threatening him. Bhagat threatened to kill him and demanded Rs 70,000 from him. Parab approached the police and lodged a complaint. The police have arrested Bhagat under the Maharashtra Money Lending (Regulation) Act.

 

PSI Mali is investigating the case.

 

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