News Column

Kerala headmaster among those held in raid on loan sharks

June 1, 2014

Akhel Mathew Correspondent

Thiruvananthapuram: As Kerala police continues its raid on illegal moneylending activities in the state under the code name €˜Operation Kubera', loan sharks of various hues are being arrested in different parts of the state.

Among the latest to be apprehended by the police are a money lender in Pandalam who had a full-fledged parking area to park different kinds of vehicles pledged for the money he advanced, and a school headmaster in Palakkad district. The headmaster was identified as Chamikutty, who heads a government school in Kuzhalmannam in Palakkad district.

Police recovered signed cheque leaves and signed papers from him, apparently given in pledge for money advanced by him to customers.

State home minister Ramesh Chennithala said the government was considering imposing the provisions of the Kerala Anti-social Prevention Act (KAPA) on those being arrested for illegal money lending activities, adding that the government was also considering amendments to the Goonda Act.

Chennithala said the registration and cooperation departments were also being involved to coordinate the Operation Kubera drive against illegal money lenders in the state and that the government would not let extraneous pressures sabotage the drive against such money lenders.

As part of Operation Kubera, over 300 money lenders from different parts of the state have reportedly been apprehended by police. The state government is also seeking the help of commercial and cooperative banks to advance money to borrowers on easier terms and conditions so as to save them from the clutches of money lenders.

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Source: Gulf News (United Arab Emirates)

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