Check seizure puts Kerala lender in trouble – The New Indian Express

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Express press service

KOCHI: Seizure of signed sheets of blank checks proved useful for the police, who registered a case against a resident of Vazhakulam for engaging in illegal money-lending activity. Vazhakulam police had registered a case and searched the home of 26-year-old Bony Pius on July 19.

Police said the accused ran the business without a license and charged exorbitant interest on cash advances. He would have kept books of registration certificates (RC) of 10 vehicles belonging to different people as well as three blank check sheets. Seven vehicles were recovered from the house which were kept as collateral for the money advanced by him.

Although the defendant addressed the Ernakulam District Main Sessions Court citing that he had been falsely entrapped, he was denied early bail after failing to explain why he was keeping the check sheets his home. Bony claimed he ran a used car business.

The court was particular about retrieving blank check sheets from his house to deny him early bail. “Even assuming for the sake of argument that the claimant is engaged in the business of selling used cars and therefore the vehicles were kept in the residence with RC details, no explanation is given for possession of three signed blank check sheets seized from his home.

Signed blank checks are not required to do such business. Thus, the seizure of the check sheets points to the prosecution’s allegation that the petitioner engages in the business of lending money without a licence,” observed Judge Honey M Varghese. The court noted that the report filed by the police clearly mentioned that Bony had given money to several people while charging exorbitant interest.

KOCHI: Seizure of signed sheets of blank checks proved useful for the police, who registered a case against a resident of Vazhakulam for engaging in illegal money-lending activity. Vazhakulam police had registered a case and raided the home of 26-year-old Bony Pius on July 19. Police said the accused ran the business without a license and charged exorbitant interest on the cash advance. He would have kept books of registration certificates (RC) of 10 vehicles belonging to different people as well as three blank check sheets. Seven vehicles were recovered from the house which were kept as collateral for the money advanced by him. Although the defendant addressed the Ernakulam District Main Sessions Court citing that he had been falsely entrapped, he was denied early bail after failing to explain why he was keeping the check sheets his home. Bony claimed he ran a used car business. The court was particular about retrieving blank check sheets from his house to deny him early bail. “Even assuming for the sake of argument that the claimant is engaged in the business of selling used cars and therefore the vehicles were kept in the residence with RC details, no explanation is given for possession of three signed blank check sheets seized from his home. Signed blank checks are not necessary to conduct said business. Thus, the seizure of the check sheets indicates the allegation of l ‘charge that the petitioner engages in the business of lending money without a licence’, observed Judge Honey M Varghese.The court noted that the report filed by the police clearly mentioned that Bony had given money to several people by charging exorbitant interest.

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