Angry Victims Torch Moneylender’s House in Nalgonda Over Unpaid Dues

Nalgonda: Tension prevailed in Padamati Tanda of Peddha Adisharlapalli mandal on Monday morning after angry victims attacked the house of a local moneylender who allegedly duped them of ₹10 crore.

According to reports, Balaji Naik, a moneylender, had collected large sums of money from locals promising high returns on interest. However, after accumulating nearly ₹10 crore from over 300 people, he allegedly stopped repayments and went into hiding.

Frustrated victims, many of whom had filed police complaints and approached the court, gathered in large numbers today and stormed into Naik’s residence. They reportedly destroyed furniture and set some belongings on fire.

Police rushed to the spot to control the situation and dispersed the crowd. A case has been registered, and efforts are on to trace Balaji Naik, who remains absconding.