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Police launch hunt for moneylender

The Ahmedabad police are looking for a moneylender whose loans at high rates of interest were allegedly responsible for the suicides of a builder and a stockbroker.

india Updated: Jul 11, 2011 22:33 IST
HT Correspondent
HT Correspondent
Hindustan Times

The Ahmedabad police are looking for a moneylender whose loans at high rates of interest were allegedly responsible for the suicides of a builder and a stockbroker.

Builder Pradip Jadav shot himself dead in his car two weeks ago while Atul Shah, a stockbroker, ended his life on July 5.

Both Jadav and Shah had borrowed money from Vikram Rabari, who, according to police officials, charges interest rates at 30-50% a year.

In his suicide note Shah named Rabari, who was allegedly harassing him. Jadav did not leave any suicide note.

“We have booked him (Rabari) and trying to locate him. During raids at his premises, we recovered a number of financial instruments like cheque books, demand drafts and a diary,” a senior police official told HT.

First Published: Jul 11, 2011 22:31 IST