TRICHY: The Trichy rural district police booked six people and arrested three of them in separate cases for demanding exorbitant rates of interest on loans. The Ramji Nagar police arrested M Shanmugam, 42, of Malaipatti near Ramji Nagar on charges of compelling I Sundaramurthy, 42, of Punganur, an autorickshaw driver to pay exorbitant interest on 5 lakh he had borrowed.
Shanmugam was also charged for forcibly collecting a signed cheque leaf from Sundaramurthy and threatening him with dire consequences on Thursday.
In another case, M Ravichandran, 49, of Mangalam in Musiri borrowed 7 lakh from M Karthikeyan, K Rahamathuri of Gandhi Nagar through Ravi of Sitlarai village by mortgaging his 33.5 cents of land. Despite repaying the entire loan, the lenders demanded Ravichandran to pay more interest. Based on a complaint, the Musiri police booked the case. The Thottiyam police on June 15 carried out a raid at Venkateshwara finance in Manamedu where they found that the owner R Kannan, 48, had lent 20,000 to L Arularaja of Manamedu for an exorbitant interest rate. Taking suo motu cognisance, police arrested Kannan on Friday.
Manapparai police received a complaint from K Prabhakaran, 39, of officers’ town on Kulithalai Road in Manapparai on Friday that he took 1 lakh loan from P Venkatachalapathy, 47, from Manapparai in 2013. During the pandemic, he was unable to repay the amount. Venkatachalapathy threatened Prabhakaran with dire consequences. Venkatachalapathy was arrested and remanded in judicial custody.
