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Tamil Nadu: Of loan sharks and shylocks

Chennai police was among the earliest to form a dedicated wing to deal with usury.

Chennai: From the small trader of Koyambedu market to the production houses of Kollywood, the tales of loan sharks and shylocks whose demands suck the soul out of borrowers are well-known, if not well-documented tale. Like many incidents, it has taken a tragedy to strike the conscience of the state.

Chennai police was among the earliest to form a dedicated wing to deal with usury. (see inset box). “In 2017, we have registered five cases whereas last year, we registered four cases,” an official with the Central Crime Branch (CCB) said. While the wing receives several complaints, they are able to take action on those only backed by documental evidence, police officers say. Six persons had complained against Bothra including a jeweler, a city-based hotel proprietor and film producer.

Film producer J.S.K. Sathish who has produced popular films such as Taramani and Parades, among others recalls the mental agony he went through which forced him to take it officially.

Sathish said he knew him (Bothra) for the past 2-3 years and it is usual for film producers to approach financiers for loans. “First, they create an impression that they are reliable. After assessing our capabilities and knowing what we are worth, they go for their antics,” Sathish told DC. For the loan of Rs 15 lakh he took, Bothra started demanding more than a crore.

“I was ready to pay double the loan amount and end the issue for all because of the mental agony wouldn't stop. My family members were also not spared,” Sathish said adding that he sought police action only when he was pushed to the wall and one complaint led to the other and in no time, six people filed complaints against the film financier.

In case of such transactions, the lenders obtain signatures in blank demand promissory notes, blank sheets and cheques and use it against the borrowers. “Such documents prove helpful during investigation, but in case of small time money lenders, there are no such documents and it is very difficult to press charges,” said a police officer.

How special police wing nabbed Kollywood financier
Chennai police was among the earliest to form a dedicated wing to deal with usury. In July 2014, then city commissioner S. George formed a special wing, headed by an assistant commissioner of police named the ‘Kanthu vatti and non-specialized traditional crimes’ wing. “The wing has two inspectors, six sub-inspectors and 20 other policemen,” Assistant Commissioner of Police (ACP) A. Devanesan told DC. He has been with the wing for about two years now and the team arrested Kollywood film financier S. Mukanchand Bothra and his sons in July this year.

( Source : Deccan Chronicle. )
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