Finance company employee kidnapped for not processing Rs 25,000 loan

In a shocking incident, two loan borrowers kidnapped a finance company employee as the employee took the fees but did not get them the loan they had applied for. 

The incident took place in Maharshtra's Kalyan city on February 25.

Ashwin Raghuvir Shetty (22) a resident of Nalasopara, who works with MM Finance consultancy in Naigaon was kidnapped by the accused.

The accused have been identified as Mohammed Kezar Nambardar and Tasif Arif Sheikh

The company gets a loan sanctioned from various banks to borrowers.  “Shetty processes documents in the company which helps people get a loan from banks,” said investigating officer Ajay Gangawane, Naupada police station.

“The duo approached him a few days back for a loan of Rs 25,000 and paid him Rs 1150 as a processing fee to obtain a personal loan from the company,” he adds.

However, the company did not sanction the loan amounts due to lack of adequate documents.  This angered the duo who decided to teach Shetty a lesson. They phoned him pretending to be customers from another number.  And on the pretext of handing him over documents called him near Hotel Alok at Thane west on Sunday afternoon around 3:00 pm.

When Shetty reached there in the afternoon they shoved him into their car and took them to their residence in Kalyan.  “From their building’s car parking lot they called up Shetty’s boss Mamata Malik and ask her to pay Rs 21,000 to release him or else they would hurt him badly,” said the officer.

However, his employer did not pay any heed to these threats and they let him go after taking away Rs 1800 cash which was in his pocket and his mobile phone worth Rs 14,000. 

Shetty then approached Kongaon police in Kalyan and lodged a complaint. 

The accused were arrested on Monday early morning at 3:00 am from their residence.  “Since the crime took place in our jurisdiction they handed over the duo to us,” the officer added added. 

The duo were produced in Thane court on February 26 and have been remanded to police custody till February 28.