City Police Launch Drive Against Illegal Financers
According to the police, instances of harassment by private micro-financiers, who demand upto 30-40% in interest from poor people, are on the rise in the society.
Hyderabad | 11th December 2014
The South Zone of the Hyderabad City Police has launched a special drive against the illegal financers operating in the Old City of Hyderabad.
So far, 12 cases have been registered against the illegal financers under the Telangana State Money Lending Act, and extortion cases filed.
On Thursday, simultaneous raids were organized on three notorious rowdy sheeters, Chota Mohammed Pahelwan, Salam Pahelwan and Jaffar Pahelwan, who have been allegedly doing unlawful finance businesses, and cases are being registering against them.
According to South Zone DCP V Satyanarayana, the instances of harassment by private micro-financiers are on the rise in the society.
"They are collecting interests of upto 30-40% from poor people like vegetable and push-cart vendors, and are taking away their household belongings if they fail to pay the interest amounts. The financers are just sucking the blood of the poor people through this practice," he said.
The accused financiers against whom cases have been registered include T Rachappa, Mohd Amjad Hussain, Syed Momin Pasha, A Srinivas, Mokala Govind, A Ravi Kumar, Srinivas, A Ashok Kumar Yadav, Md Kareemuddin, K Saidi Reddy, R Balasubramanian and N Yadaiah. (INN)
filed in: Crime, Hyderabad Crime