Jaipur, April 30 (IANS) In a significant crackdown on illegal moneylending and the exploitative practice of ‘Dandi Vyaj’ (charging interest on interest), the Aklera Police in Rajasthan’s Jhalawar district have arrested a notorious moneylender accused of trapping vulnerable individuals in a cycle of debt and coercion.
The accused allegedly lured financially distressed people with small loans and later imposed exorbitant compound interest, inflating dues manifold.
Victims were reportedly subjected to threats, intimidation, and harassment through a network of associates to ensure recovery.
During the operation, police recovered extensive records indicating financial transactions worth crores of rupees.
Jhalawar Superintendent of Police (SP), Amit Kumar, said the action followed a complaint filed on April 28 by Ghanshyam Sharma, a resident of Adarsh Nagar in Aklera.
In his complaint, Sharma alleged that he had been trapped in a debt cycle by the accused, who continuously escalated the payable amount and resorted to threats and mental harassment upon resistance.
A case was subsequently registered and an investigation initiated.
Given the seriousness of the allegations, a special team was formed under the direction of SP Amit Kumar and Additional SP Bhagchand Meena, with supervision from Deputy SP Brijesh Kumar Jat.
Led by Station House Officer (SHO) Dharmaraj, the team acted on intelligence inputs and arrested the accused Suganchand (44), a native of Khuri and currently residing in Aklera in Nai Basti.
The preliminary investigation revealed a systematic usury racket.
The accused would extend small loans to gain trust and then impose ‘Dandi Vyaj’, drastically increasing the debt burden.
Additional penalties were levied for delays, while a group of 10–12 associates was deployed to pressure borrowers through intimidation.
Financial records recovered during the raid indicate illegal interest collections of Rs 1.46 crore in 2023, Rs 1.83 crore in 2024, and Rs 2.56 crore in 2025, amounting to a total of Rs 5.86 crore over three years.
Police also seized a large volume of incriminating material, including 178 stamp papers (38 of them signed and blank), 521 signed blank cheques, 14 lending registers, 143 diaries, 2,916 accounting slips, and documents related to 26 land and property transactions.
Officials said these materials provide strong evidence of an extensive illegal lending network.
Police records also reveal that the accused has a criminal history, with cases related to attempted murder, assault, fraud, and other serious offences registered against him.
Authorities are now working to identify his associates, trace financial links, and locate additional victims.
The operation was executed by the Aklera Police team led by SHO Dharmaraj, with key contributions from Head Constables Gopal Singh, Lalaram, Jaskaran, Mukesh Kumar, Premchand, Lakhan, Pawan Kumar, Kailashram, and Dalip Kumar, along with other personnel.
The police have urged citizens to report instances of illegal moneylending, usury, or financial exploitation to ensure strict action against the offenders.
–IANS
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