AHMEDABAD: A 29-year-old bank employee lodged a complaint with Vasna police, alleging that a Rs 30,000 loan he borrowed earlier this year drew him into an illegal moneylending racket, forcing him to pay more than Rs 10 lakh in interest before the lender allegedly demanded Rs 30 lakh to settle the account.According to the FIR, the complainant, who works in the recovery department of a private bank in Satellite, borrowed Rs 30,000 from one of his relatives in Jan to meet financial requirements.The complainant alleged that the lender agreed to give money at an interest rate of 5% per day, payable every three days. When he failed to pay the interest on time, he allegedly borrowed another Rs 30,000 to clear the dues. However, the lender deducted three days’ interest in advance.The complainant further alleged that he took a third loan of Rs 30,000 to pay interest. The complainant later borrowed money from relatives and friends and eventually paid Rs 10.3 lakh.Despite the payments, the accused allegedly continued demanding more money, threatening to increase the interest amount and repeatedly calling him with abusive language and death threats, the complaint mentioned.The complainant alleged that when he sought a reduction in the interest rate two months ago, the lender demanded Rs 30 lakh to end the matter.Vasna police registered an offence in this connection.
