Maharashtra Tightens Money Lending Laws to Combat Illegal Activities

Maharashtra Tightens Money Lending Laws to Combat Illegal Activities.webp

Mumbai, February 25 The Maharashtra government has launched a statewide crackdown on unauthorized moneylenders, and it will tighten the existing law that regulates money-lending activities in order to curb illegalities, a state minister told the legislative assembly here on Wednesday.

State Minister for Home, Pankaj Bhoyar, said that the Maharashtra Money-Lending (Regulation) Act, 2014, will be amended.

He was responding to a debate in the House on the incident in which a farmer from Chandrapur was forced to sell his kidney to repay a loan of Rs 8 lakh.

"The existing laws will be examined, and the demand to book the accused moneylenders under the stringent Maharashtra Control of Organised Crime Act (MCOCA) will be considered," Bhoyar said.

Six moneylenders arrested in the case of the Chandrapur farmer, who was taken to Cambodia for kidney removal, were all unlicensed, and orders have been issued to seize their properties, he said.

In the wake of the incident, a Special Investigation Team (SIT) was formed, and it has been investigating an international organ trafficking syndicate. The investigation found that despite paying Rs 48.53 lakh against the principal amount of Rs 9.15 lakh, the victim was coerced into the organ trade.

"The racket extends to Trichy in Tamil Nadu and Phnom Penh in Cambodia. A middleman from Solapur is suspected of facilitating kidney sales for at least 10 individuals," he said.

Eight persons have been arrested so far, and the state has launched a statewide crackdown on illegal moneylenders.

He said that three-member committees headed by the collectors have been set up in every district of the state to take action against illegal money-lenders, and these panels will have to submit a report to the government every three months.
 
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cambodia chandrapur district committees illegal lending investigation team kidney trade maharashtra maharashtra control of organised crime act (mcoca) maharashtra money-lending (regulation) act moneylending organ trafficking property seizure solapur statewide crackdown tamil nadu
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