Two arrested for duping farmers after promising them of loans

The company had promised farmers with loans of Rs 6 lakhs to Rs 25 lakhs with the annual interest of 7 to 8 percent for the period of 15 years

Two arrested for duping farmers after promising them of loans

This picture has been used for representational purposes.

The MHB colony police station have registered a case and booked two people, including a woman, for allegedly duping crores of rupees in the name of processing fees by luring hundreds of farmers in the state to get loan for agricultural and other businesses. The arrested, identified by the police as Minal Chavan and Mohan Patil, had formed a company called Life Info Care and hired agents at taluka level in various districts of Maharashtra with assurance of monthly salary and 1 percent commission of the sanction loan amount by giving newspaper advertisements.

The agents worked hard day and night and deposited the papers of hundreds of willing farmers in the company office at IC colony in Borivali West. The company also took huge sum of money in the name of processing fees from the farmers along with their documents such as PAN Card and Aadhar. When the company had to provide the loans to the farmers, they closed down and owners and associates went into hiding.

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The case came to light in the beginning of this year when several farmers visiting the office of one of the agents Navnath Wayker in Ahmadnagar to get their loan amount. Wayker approached the company’s office in Mumbai but found it was locked. When he called on the mobile phones of the associates of the company their numbers were found to be switched off. After realizing that they have been cheated, he approached the MHB police and registered a complaint in this regard. Finally on September 28, the MHB police registered the case against Chavan and Patil and are investigating the case further.

The complaint Navnath Wayker hails from Beed district and is second year BSc student of Jaybhavani Gadhi college (Beed). As he was need of the job, he saw an advertisement published in local news paper looking for an employee for the post of sales representative on the taluka level in various district on January 30, of the company. In the advertisement, the company had also said to have been providing agricultural loan, home loan, business loan and project loan amount ranging from Rs 6 lakhs to Rs 25 lakhs with the annual interest of 7 to 8 percent for the period of 15 years. Wayker was hired by the company with a salary of Rs 8500.

An officer from MHB police station said that they have booked the two accused and registered the case against them under section 409 and 420 of Indian Penal Code.

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