Latest news with #GujaratMoneylendersAct
Time of India
30-06-2025
- Time of India
Nine booked for suicide of man, son
Palanpur: Nine people were booked and one of them arrested in connection with the suicide of a man and his son in Finchod village of Sabarkantha district's Idar taluka. On June 27, the villagers had discovered bodies of Kanaiyalal Nai and his son Jiyan and alerted the police. During investigation, the police found that Nai had circulated a note in some WhatsApp group, reportedly stating that he would be taking the drastic step. "The suicide note suggested that he was in deep financinal distress, and had borrowed money from some people. He reportedly took the extreme step taking his son along due to the harassment of moneylenders," said a senior district police official. Police arrested Feroz Ayub Memon and a hunt is on for eight others. All were booked for abetment to suicide under the Bharatiya Nyay Samhita (BNS) and Gujarat Moneylenders Act.
Time of India
05-06-2025
- Time of India
Builder alleges harassment by loan shark despite repaying of loan
Ahmedabad: A builder from the Motera area of the city filed a police complaint on Thursday, alleging he was forced to pay Rs 5 crore against a loan of Rs 2.5 crore and was still facing threats from the moneylenders. According to the FIR registered with Chandkheda police, the complainant, director of a realty firm, borrowed Rs 2.5 crore in March 2022 from his neighbour, who runs a finance business. It was a cash loan with a monthly interest of 2.5%. The builder stated in the complaint that between 2022 and 2024, he paid Rs 5.15 crore in cash and via bank transfers to the moneylender, his son, and daughter. Despite this, the accused continued to claim that only the interest was cleared and the principal amount was still due. The FIR further stated that the accused and his associates began harassing the complainant. They used threats, abusive language, and even physically assaulted him. The financier reportedly forced the builder to sign blank cheques and promissory notes and made the complainant register his office properties in his name under pressure. The builder also claimed that the family of the accused trespassed at one of his project sites, threatened his staff, and announced false ownership of his office premises to create pressure. Fearing for his safety and financial losses, the builder approached Chandkheda police and filed a complaint against the loan shark, his family, and their aides. He submitted payment records and other documents as evidence. Chandkheda police registered a complaint under relevant sections of the BNS and the Gujarat Moneylenders Act and began an investigation.
