Man arrested for illegal loan of money and undue obstruction

Pune: A man was arrested by Pune police on Tuesday for unduly obstructing a 25-year-old and sentenced under a state law that restricts the lending of money without a license.

The arrested man was identified as Varad Rajesh Mhetre, 25, a resident of Guruwar peth in Sasane nagar, Pune.

A complaint in the matter was lodged by Rajat Rajesh Fulfagar, 25, a resident of Rasta peth in Pune. Fulfagar owns a dried fruit and spice supply business in the city.

Fulfagar was a friend of a man who is the second accused in the case and has yet to be arrested.

According to his complaint, the two had wrongly held him in an apartment in Ambegaon between April 20 and April 21. On May 17, the two reportedly returned home and attempted to intimidate him into giving them money even though the complainant had returned. the borrowed money.

“Mhetre was arrested and remanded in custody, after which he was released on bail as all sections are available on bail. The second accused has turned off his phone and is not at home, ”said Deputy Police Inspector (PSI) Vivek Padvi of Samarth Police Station who is investigating the case.

Mhetre was a friend of the man who negotiated the borrowing process between Mhetre and the plaintiff.

“Between December and May, the complainant borrowed money from one of the arrested men. This was the cause of the tension between them, ”said PSI Padvi.

The condition on which Mhetre lent the money was that it be returned with 10 percent interest. Whether he is allowed to charge such an interest rate or lend money is under investigation.

The complainant produced the bank details of 10 bank transactions between January and February which show the return of Rs 3,26,999 for the amount of Rs 2,50,000, according to his complaint.

According to the complaint, the second defendant and Fulfagar have been friends for 6-7 years. Fulfagar had borrowed money from his accused friend on three occasions – Rs 25,000 the first time, Rs 20,000 the second time and Rs 2,50,000 the third time, all in December 2019, according to the complainant.

“The complainant was good friends with the man who is currently on the run. He had introduced the complainant to Mhetre. They had met 2-3 times before this all happened. The complainant had approached Mhetre through the second accused, ”PSI Padvi said.

A case under Sections 342 (bad duress), 323 (willfully causing injury), 506 (criminal intimidation), 34 (common intent) of the Indian Penal Code as well as Sections 4, 39 and 45 of the Loan Act money (regulation) of Maharashtra, 2014 was recorded at the Samarth Police Station.

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