Hyderabad: 4 individuals, together with a Chinese language nationwide, have been arrested right here for allegedly utilizing coercive strategies to get well dues from defaulters who had used 11 on the spot mortgage apps developed by them, police mentioned.
Two others, together with one other Chinese language nationwide are absconding and a hunt was on for them, they mentioned.
They had been arrested on Thursday throughout a raid on a name centre right here, which was getting used as a backend for assortment of dues, a police press launch mentioned.
The accused had developed 11 On the spot mortgage apps, providing loans to people and levying hefty penalties in case of defaults.
“(In addition they) resort to systematic abusing, harassing, threatening of defaulters by way of name facilities run by them.
They even blackmailed the debtors by sending pretend authorized notices to their kin and relations, it mentioned.
Not too long ago police had registered eight circumstances in opposition to these app based mostly lenders.