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Home Main Story

Man killed for defaulting on loan in krishnagiri, family alleges usury.

The Edge Media by The Edge Media
4 years ago
in City edge, Main Story
Reading Time: 1 min read
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Man killed for defaulting on loan in krishnagiri, family alleges usury.

IC:(TOI)

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The family of a man, who was killed on Saturday for allegedly defaulting on the repayment of Rs.33 lakh “borrowed at 10% interest” rate, has sought action against the practice of usury.

Police had informed B.brinda, of her husband Blaji’s murder by a man Raghuram, hours after she was taken to the Hudco station on Saturday. However, police say Raghuram himself was in dire straits and had no backing of any usurious gang. 

Deputy Superintendent of police C.murali insisted this was a case of murder over a loan default to a dire creditor amd not usury. But, asked if a 10% rate of interest would not technically qualify as ‘usury’, the DSP said. 

He also said that Raghuram , himself is in a dire situation and was outraged by the fact that he was cheated. 

An FIR has been filed on the basis of first information given. 

 

 

 

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