A 30-year- old man was hacked to death over non-payment of loan by a financier in Hosur on Saturday.
The deceased Balaji, a small-scale entrepreneur, is reported to have borrowed ₹31 lakh from Raghuram.
According to the police, Balaji had defaulted in loan payment to Raghuram, who was employed as a cashier in a private finance company. He had demanded the loan with interest. This had festered animosity between the duo.
Last week, Balaji’s parents had intervened assuring repaying of loan in instalments.
Following this on Saturday, Balaji had visited Raghuram with a cheque. However, Balaji’s earlier cheques had bounced. Angered over Balaji producing a cheque instead of cash, Raghuram hacked him to death outside his house. The Hosur police have since arrested the accused.
