Hyd Police special drive against illegal financers,sucking blood by way of collecting huge money The South Zone of 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 case. On Thursday, simultaneously raids were organized on three notorious rowdy sheeters viz Chota Mohammed Pahelwan, Salam Pahelwan and Jaffar Pahelwan, doing unlawful finance business and cases are being registering against them. According to South Zone DCP V Satyanarayana, the instances of harassment by the private micro financiers were on the rise in the society. “They are collecting the interest up to 30 to 40% from the needy poor people i.e. vegetable vendors, push carts etc. Many people are suffering with the torture of illegal financers. They are forcing them to pay higher rate of interest and taking away their household belongings if they fail to pay demanded interest amount. The financers are just sucking the blood by way of collecting huge rate of interest from poor people. Thus they are doing lot of illegal activities, atrocities on Women, old persons,” he said. The accused financiers against whom cases were 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.
Posted on: Thu, 11 Dec 2014 14:47:25 +0000
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