Nagaur man alleges predatory debt trap by moneylenders

A 54-year-old resident of Vyas Colony in Nagaur, Premprakash Bihani, has filed a police complaint against several moneylenders, alleging they trapped him in a predatory debt cycle. After suffering business losses, Bihani borrowed approximately 15 to 16 lakh rupees from various individuals to start a fast food business. He alleges that through excessive interest rates of 10-20%, the lenders inflated his debt to between 50 and 60 lakh rupees.

Bihani further claims that the lenders seized approximately 6 tola of gold jewelry, including necklaces, chains, and bracelets, which were held as security. He also reported being coerced into signing blank papers and receiving death threats. The mental distress caused by these actions led Bihani to attempt suicide on August 23. Following medical treatment in Jodhpur, he approached the Kotwali police station.

The police have registered a case under sections 318(4) and 316(2) of the Bharatiya Nyaya Sanhita and have initiated an investigation into the matter.