Ahmedabad recovery agent alleges loan shark harassment
Summarized by AI; it may make mistakes. Check important info
Summarized by AI; it may make mistakes. Check important info
A 40-year-old private bank recovery agent has alleged that he was forced to attempt suicide after an alleged moneylender repeatedly harassed, threatened and extorted him despite him repaying significantly more than the amount he had borrowed. The Vasna Police have registered an FIR against two accused.
According to the FIR, the complainant, Nirav Shirishbhai, a resident of Maninagar, alleged that he came into contact with Nagaraj alias Lalo Maganbhai Rabari, a resident of Chandlodia, in March 2024 while both were working as collection agents for a private company in Ahmedabad.
Borrowings and repayments
- Nirav initially borrowed ₹15,000 from Nagaraj at an interest rate of 5 per cent.
- He repaid the amount with interest within a fortnight.
- Due to financial difficulties, he allegedly continued borrowing money in instalments.
- He eventually borrowed a total of ₹8 lakh, allegedly at interest rates ranging between 3 and 5 per cent.
Alleged repayments
The complainant alleged that he repaid both the principal amount and interest through online transfers and cash payments.
According to the complaint :
Particulars | Amount |
Online transfer | ₹4.18 lakh |
Cash paid as interest | ₹4 lakh |
Google Pay transfer to Ajaybhai Ishwarbhai Desai on Nagaraj's instruction | ₹95,000 |
Additional cash payment | ₹2.5 lakh |
Total alleged repayment | ₹11.63 lakh |
Despite allegedly repaying ₹11.63 lakh, Nirav claimed that Nagaraj later increased the interest rate to 20 per cent and began demanding ₹20 lakh, allegedly threatening him with serious consequences if he failed to pay.
Allegations of threats and extortion
The complainant alleged that:
- The accused repeatedly visited his residence.
- They abused him and threatened to kill him.
- They continuously demanded money over the phone and in person.
Nirav further alleged that Nagaraj forcibly took possession of:
- A Hyundai i10 Sportz belonging to him.
- A Maruti Ertiga registered in the name of his friend.
- A Yamaha FZ motorcycle belonging to another friend.
He claimed the vehicles were taken by intimidation while he was travelling on public roads.
Family shifted residence
According to the complaint, the repeated threats and financial pressure forced Nirav and his family to vacate their rented house in Vasna and move to an undisclosed address in Maninagar.
However, he alleged that the accused traced his new residence and continued visiting the house, where they allegedly threatened both him and his family while demanding money.
Complaint to Police Commissioner's Office
Nirav stated that he submitted a written representation to the Ahmedabad Police Commissioner's Office on June 6 seeking action against Nagaraj. However, he alleged that the harassment continued.
Suicide attempt
The complainant alleged that on June 9, unable to bear the continued harassment, he went to the Riverfront Gujari Bazaar area carrying insecticide and consumed the poisonous substance in an attempt to end his life.
Before consuming the poison, he telephoned his friend, Harsh Sureshbhai Chavda, who rushed to the spot and shifted him to the Civil Hospital in Asarwa through the 108 ambulance service.
After undergoing treatment, Nirav was discharged from hospital on June 25 and subsequently approached the Vasna Police.
Accused named in FIR
Nirav has sought legal action against:
- Nagaraj alias Lalo Maganbhai Rabari.
- Ajaybhai Ishwarbhai Desai.
- Any other persons found to be involved during the investigation.
He has alleged offences relating to illegal money lending, extortion, criminal intimidation and abetment.
