TADJAC's call to expose auto financiers racket
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Accuses financiers of collecting high rates of interest, withholding the original registration certificates and permits of the vehicles
Hyderabad: The Telangana Auto Drivers' JAC (TADJAC) has said that there was an urgent need to expose the auto financers' racket in the State, particularly in the twin cities. "The financers go on collecting exorbitant rate of interest, they don't transfer vehicles in the name of purchasers and withhold the original registration certificates and permit of the autos with them illegally," the JAC alleged.
Addressing the media here on Tuesday, Mohd Amanullah Khan, TADJAC convener, demanded that the police arrest the financers for harassing auto drivers under the Preventive Detention Act and send them to jail up to one year.
He recalled that nine years ago, when auto owner Nawab Ali had approached the Jahanuma police against financers concerned, not only a case was registered, but also they were arrested immediately and sent to jail. Besides, he said, the police had exposed the auto financers' racket at several places and found that they demand almost double the interest.
"Neither do they give owners original documents nor do they transfer ownership. The police now are not accepting complaints of auto drivers against private financers' harassment, but advising them to approach courts," he said.
Khan threatened that auto drivers would be forced to hold demonstrations in front of auto financers' offices if they resort to harassment. JAC leaders K Laxmi Narsaiah, Afzaluddin, Diamond Saleem and Shaik Ahmed were present at the press meet.
