Moneylenders lie in wait for everybody

It is not only people from the poorer sections of society that have been tortured by private moneylenders lending money at exorbitant interest rates, but even well-off people have suffered at their hands.

A day after DNA carried a report on moneylenders running torture cells in the city to torment defaulting borrowers, many stories of businessmen suffering in a similar manner have come to light.

Rajiv Somani, a businessman, used to own a mobile phones shop but he started a decoration business when his cell phones shop did not do well. “There are 10 members in my family,” he said. “Every month I have to pay interest on the loan that I have taken for the new business, but I haven’t been able to do it.”

Somani said the moneylenders he had borrowed from began visiting him at his home when he was unable to pay even the interest. “The moneylenders come to my home frequently and abuse me violently,” Somani said. “I live in constant fear.”

Another businessman is in such great despair that he has lost the will to live. Suresh Kekani once owned a shop that sold seat covers but the shop was demolished. “Nowadays I work for a decoration shop and earn Rs2,500 every month, which is not enough for my family,” he said. “Once, out of desperation, I borrowed Rs20,000 from a moneylender but now I am not in a position to pay even the interest. I don’t know what to do. I even tried to commit suicide once but a man saved me. What is the use of my staying alive?”
Some other businessmen complained, on the condition of anonymity, against a moneylender who is a resident of Odhav locality, and is said to enjoy political patronage.

When told about the plight of businessmen being harassed by moneylenders, ACP (A division) VR Toliya told DNA that people should lodge a complaint with the police if a moneylender asks for more than 2% interest. “And even to lend money at 2% interest, a private moneylender has to have a licence issued by the authorities,” Toliya said.