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‘Moneylenders adopt a new way, force borrowers to execute property sale deeds’ Moneylenders are adopting a new way to avoid punishment for usurious lending by forcing borrowers to name transfer their properties by registering sale deeds instead of pledging them. A former DMK MLA, D. Radhakrishnan, on Monday lodged a complaint with Madurai Superintendent of Police Sujit Kumar claiming that his relative had cheated him of prime properties worth ₹9 crore for a ₹2-crore loan he had taken. The SP said he had instructed his officials to inquiry into the complaint. “He insisted that I should execute sale deeds of some of my properties with the promise that on repayment of loan with interest, he would cancel the registration. But now he has gone back on his word with an intention to cheat me,” said Mr. Radhakrishnan, who had won Sholavandan Assembly constituency in 1989.

Tamil naduMadurai superintendent of police sujit kumarSholavandan assemblyMadurai superintendentPolice sujit kumarTamil nadu prohibitionCharging exorbitant interest actEx mla files cheating complaint against moneylender maduraiதமிழ் நாடுமதுரை கண்காணிப்பாளர் ஆஃப் போலீஸ் சுஜித் குமார்ஷோலவந்தான் சட்டசபைமதுரை கண்காணிப்பாளர்போலீஸ் சுஜித் குமார்தமிழ் நாடு ப்ரோஹிபிஶந்