Brahmavar: Brahmavar police have arrested three persons in connection with allegations that a Mangaluru-based finance company was providing loans at exorbitant interest rates and allegedly harassing borrowers over repayment of pending instalments.
The case was registered at Brahmavar police station based on a complaint filed by Rajesh Naik. According to the complaint, the accused allegedly forcibly took away a motorcycle belonging to Ganesh Ganiga of Kunjal in connection with a loan carrying a high rate of interest.
It was also alleged that Rajesh Naik, who had stood as a guarantor for the loan, was assaulted.
Two accused arrested on August 6
Acting on the complaint, Brahmavar police began an investigation into the allegations and identified persons allegedly connected with the incident.
Under the guidance of Udupi Sub-Divisional Police Officer Belliyappa and Brahmavar Circle Inspector Gopikrishna, the investigation was led by Brahmavar police Sub-Inspector Ashok Malabagi.
Crime staff Kiran and Siddappa Sakenalli assisted the investigating officer in tracing the accused.
Police arrested Sandeep Shetty of Kulai, Mangaluru, and Vijeeth Shetty of Kavoor, Mangaluru, on August 6. Following their arrest, both accused were produced before the court.
The investigation continued to establish the circumstances surrounding the alleged loan recovery practices and the incident involving the motorcycle and guarantor.
Third accused arrested
As part of the continuing investigation, police arrested another accused, identified as Sampath of Bajpe, Malavoor, Mangaluru, on August 13.
With the arrest of Sampath, three persons have now been taken into custody in connection with the case.
Police are investigating the alleged role of each accused and their association with the finance company and the loan recovery activities mentioned in the complaint.
The allegations include charging borrowers exorbitant interest and allegedly resorting to harassment when instalments remained pending.
Motorcycle and car seized
During the investigation, Brahmavar police also recovered the motorcycle allegedly taken away from Ganesh Ganiga.
Police have additionally seized the car allegedly used in connection with the commission of the offence.
The recovery of the two vehicles is expected to form part of the evidence being examined by investigators as they continue to reconstruct the events described in the complaint.
Police are also examining the circumstances under which the motorcycle was allegedly taken from the complainant’s associate and the alleged assault on the guarantor.
Complaint triggers investigation
The case originated from a complaint filed by Rajesh Naik at Brahmavar police station.
According to the complaint, Ganesh Ganiga of Kunjal had obtained a loan from the Mangaluru-based finance company. The complaint alleged that the loan was subject to an exorbitant rate of interest.
The motorcycle belonging to Ganesh Ganiga was allegedly taken away over an issue relating to repayment. Rajesh Naik, who had reportedly stood as guarantor, was also allegedly assaulted.
Based on these allegations, Brahmavar police registered a case and initiated an investigation.
Police examine alleged recovery practices
The investigation is also focused on the alleged methods used for recovering pending loan instalments.
Charging high interest on loans and using coercive methods to recover outstanding amounts can lead to serious disputes between lenders and borrowers. In the present case, police are examining the specific allegations made by the complainant and the role of the accused persons.
The police are also expected to gather further evidence regarding the loan transaction, repayment arrangements and circumstances surrounding the alleged seizure of the motorcycle.
As the investigation remains under way, the allegations against the accused are yet to be established before the court.
Investigation continues
The arrests were carried out under the supervision of senior police officers in Udupi subdivision.
Udupi Sub-Divisional Police Officer Belliyappa and Brahmavar Circle Inspector Gopikrishna guided the investigation. Brahmavar PSI Ashok Malabagi led the investigation with assistance from crime staff Kiran and Siddappa Sakenalli.
The police have seized the vehicles allegedly connected to the incident and are continuing to collect evidence.
Further details regarding the finance company’s operations, the loan transaction and the alleged recovery practices may emerge as the investigation progresses.
Conclusion
The arrest of three persons marks a significant development in the Brahmavar police investigation into allegations of exorbitant-interest lending and harassment over loan repayment. With the alleged motorcycle and vehicle seized, police are continuing their inquiry to establish the facts and determine the individual roles of those arrested.
The accused have been arrested in connection with the allegations, while the matter remains subject to further investigation and judicial proceedings.