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Gang of usurers held; properties retrieved

Special Correspondent
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They have indulged in all kinds of inhuman acts: SP

Four-member gang, including a woman, was arrested General power of attorney was forcibly received
Four-member gang, including a woman, was arrested General power of attorney was forcibly received

: A four-member gang, including a woman, was arrested on charges of cheating gullible public who pledged their original documents as collateral security and took loans at high rates of interest later realised that their properties were sold by the gang through the general power of attorney forcibly received from them to third parties.

Complaints from six

Following complaints from six persons that they had borrowed money for their businesses from private usurers and even after repaying the loans, they could not get back their original documents, Superintendent of Police Asra Garg directed the police to register cases.

Investigations revealed that Balasubramanian (43) son of Sambasivam, Anbazhagan (34) son of R.K. Balasubramanian of Ayyanar Koil Street Surveyor Colony, Muthukrishnan (27) son of Jayapal of Sengulam Sivaganga district, Porkodi wife of R.K. Balasubramanian, Surveyor Colony and Selvam of the same locality had been lending loans on high rates of interest for the last couple of years.

It came to light that persons who wanted money ‘urgently' to meet their domestic and business commitments pledged their documents as collateral security. As a pre-condition, the lenders had allegedly taken a general power of attorney from the borrowers and subsequently took possession of the same and sold it to third parties.

Properties sold

The lenders had claimed that as the borrowers failed to settle the dues in full, to recover the same, they sold their properties.

For instance, the police officers said that a borrower who had taken Rs. two lakh as loan from one of the accused had deposited his sale deed copy among others of an immovable property valued Rs.80 lakh in the market today.

“Only with the police intervention, I got back my property,” the complainant said. The woes of other petitioners were similar, who claimed that they underwent humiliation and nightmarish experience from the usurers.

For a loan amount of Rs.two lakh, “I returned over Rs.seven lakh…Still the usurer claimed that I owed him Rs three lakh,” a woman borrower said.

Mr. Garg said that the usurers had indulged in all kinds of inhuman acts and commended the special team headed by ADSP (crime) A. Myilvaganan, DSP Thangavelu, Inspectors Velmurugan and Thirumal Alagu, SIs of Police Vimala, Shakila, Shantakumari and Murugesan.

Cases under IPC Sections 120 B, 406, 420 and 506 (2) were registered against the accused. Further investigation is on.

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