Surat: Limbayat police have registered a case against two men accused of charging exorbitant interest on loans, assaulting a 31-year-old borrower and threatening him and his family over repayment.An FIR was registered at Limbayat police station against the two accused—Faruq Shah (35) and Gulam Hamid (35), police said.According to the complaint, the victim, Soyeb Khatik, borrowed money from the accused in Oct 2023 to meet the medical expenses of his ailing daughter. He initially took Rs 3.85 lakh from Shah, who charged him Rs 27,000 in monthly interest. Khatik claimed to have paid Rs 5.40 lakh in interest.After a few months, Shah demanded repayment of the principal amount of Rs 3.85 lakh. The complaint further states that Shah arranged a deal under which Khatik mortgaged his land to Hamid for Rs 10 lakh, assuring him that he would be able to reclaim the property.As part of the arrangement, Shah agreed to pay Hamid Rs 12,000 per month as interest until the dues were cleared.Khatik alleged that the accused later demanded repayment of the principal along with inflated interest and repeatedly harassed him when he failed to meet their demands. They threatened, assaulted and verbally abused him, prompting him to approach the police.Based on the complaint, Limbayat police registered a case against the two accused under Sections 115(2), 296(b) and 54 of the Bharatiya Nyaya Sanhita (BNS), along with Sections 42(a) and 42(d) of the Gujarat Money-Lenders Act. Police said further investigation is underway.
