Lokmat News Network
Chhatrapati Sambhajinagar
In another disturbing case of illegal moneylending, a family from Kanchan Nagar, Paithan Road, has been booked at Satara Police Station. The accused, Savita Mahavir Jain, Mahavir Mamchand Jain, and Saurabh Mahavir Jain, allegedly exploited a farmer by refusing to return his land despite full loan repayment with interest. Action has been taken under Section 39 of the Maharashtra Money-Lending (Regulation) Act, 2014, Inspector Sangram Tathe confirmed.
Suresh Pathade, a farmer from Eitkheda, had mortgaged his farmland in Shendra while borrowing money at 5% monthly interest. It was agreed that the lenders would not claim ownership. However, even after clearing his dues, the land was not returned, forcing Pathade to seek help from the Cooperative Registrar's office.
Raids uncover evidence of widespread lending
Acting on the complaint, authorities raided the Jain family's home and their garment shop, Vardhman Garments in Gulmandi, on March 11, 2025. The search led to the seizure of nine blank bonds, multiple sale deeds, receipts, land extracts, and detailed records of illegal financial dealings, pointing to a larger moneylending racket.
Delayed action raises questions
Although the raids were conducted in March, action was delayed, drawing criticism from locals. It was only on Friday that Subhash Rathod, a Cooperative Officer, formally lodged a complaint, leading to the registration of a case. This incident comes close on the heels of another illegal moneylending case recently reported in the Cantonment area, raising concerns about the unchecked spread of such practices in the city.