Central Crime Branch (CCB) sleuths raided four unauthorised money lending offices in the city on charges of offering cash credit to the public at increased interest rates.
The raids yielded Rs 42.4 lakh in the form of cash, cheques, gold, documents and other valuables.
The operation was carried out jointly by the CCB and the deputy registrar of the Bengaluru District Co-operative Societies. The searches were conducted in the offices in Basavanagudi, Chamarajpet, Kamakshipalya and Basaveshwaranagar. The houses of the owners of the raided offices were also searched. One of the offices belonged to a rowdy-sheeter.
Strict action will be initiated against the owners of these establishments, said a note by the CCB.
A case has been filed against all the four under the Karnataka Money Lender Act, the Karnataka Prohibition of Charging Exorbitant Interest Act, and under IPC Section 34 (acts done by several persons in furtherance of common intention).
(Published 13 November 2023, 21:21 IST)