Akola cooperation department raids 28 places at once in crackdown on illegal moneylending

Akola: The cooperation department carried out raids at various places in the city on Friday, October 9, in a crackdown on illegal private moneylending. Teams totalling 226 officials and staff searched 28 locations and seized incriminating documents, district deputy registrar of cooperative societies Giteshchandra Sable said, calling it the department's biggest action so far.

Many complaints of illegal moneylending had been received in the city, and the raids were carried out under Section 16 of the Maharashtra Money-Lending (Regulation) Act, 2014, on the complaints of 11 people. The joint teams comprised 120 officials and staff from the administration and audit wings in Akola, Amravati, Washim and Buldhana districts, 40 panch witnesses, 22 police officers and 44 male and female police personnel.

Earnest-money receipts, cheques and other documents were found during the searches, and further action will follow once they have been examined. The raids caused a stir in the city.

Sources: Loksatta; ABP Majha