Mumbai: The Parksite police have registered a case against an alleged moneylender, Vakil Hashmi, for illegally lending money at exorbitant interest rates and extorting nearly Rs68 lakh from a businessman through threats and intimidation.
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According to the FIR, the complainant, Mohammad Naseem Rais Hashmi, 49, resides with his family at Godrej Garden Enclave in Vikhroli East and runs a wooden jewelry box manufacturing unit Zareen Wood Craft in Parksite, Vikhroli West. The accused, originally from Prayagraj, Uttar Pradesh, was residing in the Parksite area and allegedly operated an unlicensed moneylending business.
In 2006, Naseem Hashmi borrowed Rs1 lakh in cash from the accused at an interest rate of 10% due to business needs. Between 2006 and 2007, he took an additional Rs4 lakh in installments under the same terms. He initially paid Rs50,000 per month as interest via bearer cheques or cash until 2008.
Unable to sustain such high payments, Hashmi requested a reduction in interest, after which the accused allegedly agreed to 6% interest. Accordingly, the complainant paid Rs30,000 per month until 2010. However, delays in payments reportedly led to threats from the accused, including warnings of physical harm and death.
Later, the accused allegedly demanded Rs20,000 per month as interest, which the complainant continued to pay through bearer cheques, online transfers, or cash from 2011 onward, as per his capacity.
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In total, the accused is alleged to have collected Rs68 lakh purely as interest. Harassed mentally and financially over the years, the complainant finally approached Parksite police station and lodged a complaint.
Police have registered an offence under Sections 39 and 4 of the Maharashtra Money-Lending (Regulation) Act, 2014, along with relevant provisions of the Bharatiya Nyaya Sanhita (BNS) Act, and further investigation is underway.
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