Two held for illegal money-lending in Gokak; cash recovered
The police arrested two persons on charges of running an illegal money-lending business in Gokak in Belagavi district. Officers raided the house of the accused
The police arrested two persons on charges of running an illegal money-lending business in Gokak in Belagavi district. Officers raided the house of the accused, who were allegedly charging exorbitant interest rates, and recovered around ₹6 lakh in cash and land documents belonging to several farmer-borrowers.
Based on information received through the Karnataka State Police mobile application, the Gokak police registered a case and raided a house in the town. They found cash and documents related to land. The police registered a case against Yallappa Birajgol and his son, Vitthal Yallappa Birajgol, for allegedly running a money-lending business without the required permits or clearances.
They were taken into custody. The police officers obtained a search warrant from the court and conducted the operation. During the inspection, they seized ₹6.15 lakh in cash, along with several blank cheques, promissory notes and blank bond papers belonging to different persons.
A case has been registered under the Karnataka Prohibition of Charging Exorbitant Interest Act, 2004. Investigation is on.
The BriefWire