Police operation against illegal loan biz

NT Correspondent

Karwar (Uttara Kannada): The Uttara Kannada police continued their raids late on Wednesday night against those who were illegally running interest-bearing businesses and charging high interest rates from the poor. They inspected the homes of those involved in such businesses, seized several documents and registered a case against the accused.

Following complaints about the 'meter interest racket' being rampant in Haliyal, Yellapur, and Mundagod areas of the district, the district administration and police department had issued strict instructions to track down such people. Accordingly, the district police department had issued a notification and asked people to provide information about those involved in the illegal interest rackets.

Against this backdrop, a police team led by Superintendent of Police raided the houses of those involved in illegal moneylender business in Mundagoda late on Tuesday night. They questioned those involved in micro finance business and illegal interest business. There was information that gambling was being done with the money earned from interest transactions in 7 places under the jurisdiction of Haliyal police station. Accordingly, the police registered cases under the Security Act against a total of 7 people.