Accused couple promised loan at just 1% interest

Victim arranged for the amount, selling her jewellery

A complaint has been lodged in this regard

Radha, a mother hailing from Bengaluru has approached the cops, alleging she has been cheated in the name of procuring a quick loan. 

As per her complaint, it has come to light that a couple – Kamal and Shivamadayya – approached her, coaxing her into coughing up Rs 6 lakh as processing fee, for a loan of Rs 45 lakh, to be granted in just a day. 

Enticed by the offer, Radha arranged the money by diverting the amounts she had reserved for her children’s fee, among others. 

It is further noted that the accused couple lied to Radha that the loan would be granted to her at a low rate of 1%, and the amount would be granted to her, keeping her horse, worth Rs 1 ½ crore as collateral.