Gurugram: Two arrested for extortion, illegal loan recovery

The Gurugram Police has arrested two moneylenders for extortion and illegal recovery of loans at exorbitant interest rates, officials said on Thursday.The accused allegedly charging 10 per cent interest and demanded Rs 18 lakh as interest on a principal loan amount of Rs 10 lakh.

The Gurugram Police has arrested two moneylenders for extortion and illegal recovery of loans at exorbitant interest rates, officials said on Thursday.

The accused allegedly charging 10 per cent interest and demanded Rs 18 lakh as interest on a principal loan amount of Rs 10 lakh. Police also recovered an SUV from their possession.

According to the officials, a man reached the New Colony police station on Thursday and lodged a complaint, alleging threats, assault and demands for additional money.

The complainant claimed that he had borrowed Rs 10 lakh from an individual named Ranbir on September 3 in 2024.

''I have already repaid Rs 10 lakh but he is still demanding Rs 18 lakh more in the name of interest. Yesterday, he (the accused) called and threatened to kill me if I did not pay. Late at night, he came to my home with more than 13 people,'' the complainant told police.

''My family remained inside out of fear. He then went to my office, shattered the window panes and threatened me again over the phone,'' he added.

Following the complaint, an FIR was filed and two accused were arrested, the officials said. The arrested accused have been identified as Ranbir (42) and Vikas (22), both residents of Haryana's Charkhi Dadri.

''During interrogation, the accused revealed they have been lending money on interest since 2023-24. They are being questioned further,'' a spokesperson for the Gurugram Police said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)