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THE METER BADDI IS OPERATORS ARE RESPONSIBLE FOR EXTORTION CHEATING AND MANY SUICIDES

 
 
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THE METER BADDI IS OPERATORS ARE RESPONSIBLE FOR EXTORTION CHEATING AND MANY SUICIDES
by System Administrator - Wednesday, 1 March 2017, 8:35 AM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru: Police need to act on meter baddi operators throughout state .Police arerequested to implement THE KARNATAKA PROHIBITION OF CHARGING EXORBITANT INTEREST ACT 2004 in letter and spirit and avoid recurrence of events like suicide .But what is happening is police though they bok FIR but in connivance with meter baddi operators they file B-Reports acquitting the culprits and this ultimately defeats the spirit of the Act and farmers and victims are left no choice then to suicide.Home minister and his advisors should act on the matters pending in police station. All FIRs are important .Please Handle them with carePolice need to investigate and act on all FIRs filed in Bangalore city..In a city of more than 100 police stations, there are around 15,000 cases in cold storage as FIR filed but no further action and no charge sheets filed. Madiwala police station alone had 3,000 cases pending. This is really upsetting as there was nobody to supervise the disposal of cases that were booked,”. FIR booked but till today no action no arrests and no charge sheet. etc

Compliant against loan shark (Meter Baddi) operator Sri L Jayarama s/o lokaiah aged about 59 years resident of at No 249 Visveshvaraiah Layout 7th cross Kammagondanhalli MNTI College Bengaluru:560016 Mobile phone number 9964474673 is being filed by Venkatanarayana P.K (PF No 3134164)Head Messenger state Bank Of India SME Kumara park Branch Bengaluru: 560020 who is victim of this meter baddi operator .He had taken hand loan of Rupees 9000/- when he was ill and he settled it in one installments on 08-07-2015 within 6 months and finally settled and he did took through bank and copy of Bank statement is enclosed with this complaintbut mter baddi oertaor did not returned the chequess which he had taken and Now again he is again demanding and threatening him and still he is demanding 375000/- with interestfrom me by filing a false case in court as he had taken from me signed chequesand based on which he has filed a false case on brrower in CC No 2152/2017 posted for appearance 09-03-2017 to threaten me for extortion .He has threatened to assault him and conveyed these messages to himand threatened that he will get him eliminatedby using rowdies .He is not allowing him to work in the Bank and he want to extortion as heis unmarried. Please protect himfrom him and hishenchman's as his life is in danger .Please protect him from this alleged loan sharks and unlicensed moneylender as per THE KARNATAKA PROHIBITION OF CHARGINGEXORBITANT INTEREST ACT 2004 and it is crime .The entrepreneurs and farmers and common middle class are becoming victims of loan sharks as they target genius minded professionals with exorbitant interest rates and ultimately these loan sharks do their business without license to lending business and in violation of prohibition of exorbitant rate of interest Act and make the life of professionals miserable using all kind of tactics including use rowdies to extract money by threatening. THE KARNATAKA PROHIBITION OF CHARGINGEXORBITANT INTEREST ACT 2004.This is an interesting piece of legislation about which the general public does not have much awareness. The Act has a noble intention of prohibiting the charging of exorbitant interest by financiers and money lenders. An exorbitant interest is an interest at a rate more than what is fixed under section 28 of the Karnataka money lenders Act 1961. This amount to 15 % in case of secured loans and 18% in case of unsecured loans. Hence anybody charging interest more than the above rate is said to charging exorbitant interest. As per the Act whoever charges exorbitant interest on any loan advanced by him shall be punishable with imprisonment for a term of which may extend to 3 years and also with a fine which may extend to Rupees 30,000/- .A debtor may deposit the money due in respect of a loan received by him  from any person together with interest thereon into the court along with the petition to record that amount deposited is in full or part satisfaction of the loan including the interest thereon. The Court may after inquiry, pass order recording the satisfaction of the loan and interest therefore in full or in part as the case may be. The Court may, on a petition filed by the debtor for settlement of loan including the interest therefore, pass an order for the adjustment of the interest, if any, paid by the debtor, over and above the rate of interest fixed by the State Government towards the loan. Where a debtor or any member of his family commits suicide and if it is shown that immediately prior to such suicide the debtor or any member of his family was subjected to molestation by any person, the person who has advanced loan shall, unless the contrary is proved, be deemed to have abetted the commission of such suicide

At the same time entrepreneurs' and other and at the same timecompanies should stop taking such high rate of interest loans from loan sharks and instead take bank loans as it is deadly and costlier mistake taking loan from loan sharks. CM and Home Minister and KSHRC must take stern action against loan sharks and Police must book them and investigate? As per law Where a debtor or any member of his family commits suicide and if it is shown that immediately prior to such suicide the debtor or any member of his family was subjected to molestation by any person, the person who has advanced loan shall, unless the contrary is proved, be deemed to have abetted the commission of such suicide. The entrepreneurs are becoming victims of loan sharks as they target genius minded professionals with exorbitant interest rates and ultimately these loan sharks do their business without license to lending business and in violation of prohibition of exorbitant rate of interest Act and make the life of professionals miserable using all kind of tactics including use rowdies to extract money by threatening. THE KARNATAKA PROHIBITION OF CHARGINGEXORBITANT INTEREST ACT 2004.This is an interesting piece of legislation about which the general public does not have much awareness. The Act has a noble intention of prohibiting the charging of exorbitant interest by financiers and money lenders. An exorbitant interest is an interest at a rate more than what is fixed under section 28 of the Karnataka money lenders Act 1961. This amount to 15 % in case of secured loans and 18% in case of unsecured loans. Hence anybody charging interest more than the above rate is said to charging exorbitant interest. As per the Act whoever charges exorbitant interest on any loan advanced by him shall be punishable with imprisonment for a term of which may extend to 3 years and also with a fine which may extend to Rupees 30,000/- .A debtor may deposit the money due in respect of a loan received by him  from any person together with interest thereon into the court along with the petition to record that amount deposited is in full or part satisfaction of the loan including the interest thereon. The Court may after inquiry, pass order recording the satisfaction of the loan and interest therefore in full or in part as the case may be. The Court may, on a petition filed by the debtor for settlement of loan including the interest therefore, pass an order for the adjustment of the interest, if any, paid by the debtor, over and above the rate of interest fixed by the State Government towards the loan. Where a debtor or any member of his family commits suicide and if it is shown that immediately prior to such suicide the debtor or any member of his family was subjected to molestation by any person, the person who has advanced loan shall, unless the contrary is proved, be deemed to have abetted the commission of such suicide.