Nagpur: In yet another incident of loan sharks preying on helpless victims, Rana Pratap Nagar police have booked an illegal moneylender for extorting ₹1.29 lakh as interest on a loan of ₹30,000 and still subjecting the borrower to harassment and threats.

Based on a complaint lodged by victim Roshan Jaisinghani (40), Rana Pratap Nagar police booked the accused, identified as Shankar alias Chinu Lalwani (34), a resident of Sindhi Colony, Khamla, in this connection.

According to police, Roshan had borrowed ₹30,000 from Shankar between September 9, 2021 and September 29, 2022, at an exorbitant 9% monthly interest rate. Despite paying over ₹1.29 lakh in interest, the accused allegedly kept demanding the repayment of the principal amount. When Roshan expressed his inability to pay further, Shankar reportedly threatened him with dire consequences.

Fed up with the continuous harassment, Roshan approached Rana Pratap Nagar police and filed a complaint. An offence has been registered, and further investigation is underway.