Friends turn foes over financial issue

NT Correspondent

Bengaluru: Byatarayanapura police arrested four people for allegedly abducting a businessman after he failed to repay a loan of Rs 1 crore.

According to sources from police, the victim, Ranjith, owned a plywood shop in Byatarayanapura Police Station limits. It was learnt that he had obtained a loan of Rs 1 crore from his friend, Santosh, who is also a prime accused in the case. Ranjith, in his complaint to the police, had alleged that Santosh had demanded repayment of his loan and had issued death threats to him over the phone calls.

However, when Ranjith failed to repay the money, the accused Santosh, with the help of four of his friends abducted Ranjith from Timber Yard Layout on September 23 and threatened to kill him if he did not pay Rs 30 lakh within a few days.

Ranjith had recorded Santhosh's threat calls and based on that filed a complaint with the jurisdictional police. He alleged that he had paid 5 per cent interest on the money he borrowed from Santosh before taking a loan of Rs 1 crore from him.

He also said that he had repaid Rs 23 lakh to Santosh along with an extra Rs 20 lakh. However, Santosh kept on harassing him for money, the complaint read.

The police have arrested Santosh and four others for abducting and harassing the victim. Further investigation is on.