Dhanavijay (32) is a native of Uliyampalayam in Thondamuthur in Coimbatore. He runs a moulding workshop in Thondamuthur area. He had taken a loan of Rs 2 lakh from Manickam, a native of Thondamuthur, who has threatened even after paying Rs. 8.5 lakhs.
The Thondamuthur police have arrested a man in Coimbatore for threatening the owner of the pattarai by demanding usury.
Dhanavijay (32) is a native of Uliyampalayam in Thondamuthur in Coimbatore. He runs a moulding workshop in Thondamuthur area.
In 2017, he had taken a loan of Rs 2 lakh from Manickam, a native of Thondamuthur, to buy automatic machines at his workshop. He signed and mortgaged two unfilled cheques and a deed of vettu.
Dhanavijay had asked Manickam for a cheque and a bond after paying nearly Rs 8.5 lakh as principal interest till 2020. Manickam threatened Dhanavijay with an additional rs 5 lakh as usury on the pretext of giving it in a day or two.
He then lodged a complaint with the Thondamuthur police. Based on the complaint, a case was registered against Manickam under the Prevention of Usury Act and he was arrested. He was also produced in court and sent to jail.