<p>The CCB arrested a financier who allegedly charged exorbitant interest rates. </p>.<p>Nagaraj Shetty, 42, from Vyalikaval who ran a finance company called Balaji Finance, lent money to businessmen in and around Vyalikaval and Malleswaram. </p>.<p>Police raided his house following complaints registered that he charged exorbitant interest. They seized 164 cheques, 84 on-demand promissory notes, besides property documents forcefully taken from borrowers and Rs 22 lakh in cash, a senior official said. </p>.<p>The official said Shetty was charging 6-10% interest by holding these documents as collateral. Those failing to pay back the money had been slapped with even higher interests. </p>.<p>Sunil Kumar, a cloth merchant in Malleswaram, borrowed Rs 5 lakh from Nagaraj in 2017. Though he was paying back the money regularly, Nagaraj kept demanding more money. Kumar lodged a complaint with Vyalikaval police. City police commissioner Kamal Pant transferred the case to the CCB. </p>.<p>The officer said people who lost money to Shetty can file a complaint against him at the CCB head office in Chamarajpet.</p>
<p>The CCB arrested a financier who allegedly charged exorbitant interest rates. </p>.<p>Nagaraj Shetty, 42, from Vyalikaval who ran a finance company called Balaji Finance, lent money to businessmen in and around Vyalikaval and Malleswaram. </p>.<p>Police raided his house following complaints registered that he charged exorbitant interest. They seized 164 cheques, 84 on-demand promissory notes, besides property documents forcefully taken from borrowers and Rs 22 lakh in cash, a senior official said. </p>.<p>The official said Shetty was charging 6-10% interest by holding these documents as collateral. Those failing to pay back the money had been slapped with even higher interests. </p>.<p>Sunil Kumar, a cloth merchant in Malleswaram, borrowed Rs 5 lakh from Nagaraj in 2017. Though he was paying back the money regularly, Nagaraj kept demanding more money. Kumar lodged a complaint with Vyalikaval police. City police commissioner Kamal Pant transferred the case to the CCB. </p>.<p>The officer said people who lost money to Shetty can file a complaint against him at the CCB head office in Chamarajpet.</p>