Harassment cuffs on 3 private financiers

​Hyderabad: The Special Operations Team police of East Cyberabad Commissionerate on Saturday arrested three private financiers and seized huge numbers of land documents, promissory notes and cheques, which were taken from the public.

After receiving complaints from public that some private financiers in Cyberabad were threatening them demanding higher interest than what was agreed upon while taking hand loans, the SOT police conducted raids in Saroornagar and held three persons. The private financiers also threatened to take over the ownership of the properties mortgaged during loans, the complainants said.

S Hemraj (50), S Vishwaraj (43) and S Sainath (33) of Saroornagar, were all into financing for a long time. They were illegally running their businesses and were charging exorbitant rates of interest and squeezing money from innocent public, said SOT Additional DCP E Ramachandra Reddy.

The accused give hand loans to the needy public on high rates of interest ranging from 3-5 per cent per month. While lending money, they take their signatures of the borrowers on blank promissory notes, obtain blank cheques and also take property documents.

Taking advantage of their innocence, the accused threatened several borrowers to take over their properties and demanded more interest on the loans, the additional DCP said. During raids, the SOT sleuths seized 41 original sale deeds, eight AGPAs, two gift deeds, 76 promissory notes, 16 signed blank cheques, and pass books of lands and other property related documents from the trio. The police remanded all the accused.