December 24, 2013

Micro-finance fraud: 65 Narikurava women lodge complaint


Seeking action:Narikurava women of Vallimalai village in Krishnagiri at the District Collectorate on Monday to lodge a complaint for fraud.- Photo: Special Arrangement.
Each one of them paid Rs. 1500 as processing fees

Over 50 women from Narikurava community living in the footsteps of the Vallimalai near Kallavi in Krishnagiri district lodged a complaint on Monday with the District Collector T.P. Rajesh and also the Superintendent of Police S.R. Senthil Kumar that they were defrauded by an Andhra-based micro finance company.

In a petition submitted to the authorities, the Narikuravas said that they had avail themselves of a loan of Rs. 15,000 from the micro finance company after paying a processing fee of Rs. 1500 on September 24, 2010 and settled the loan amount on December 23, 2011 along with interest.

They alleged that after the prompt repayment of loan, some representatives of the same company approached and promised to give Rs. 20,000 as loan for 65 women members of our community within a week.

Believing their words, each one of them paid Rs. 1500 as processing fees on December 23, 2011. They also took signatures and thumb impressions on blank promissory notes and never returned to the village.The women never availed the second round of loan from the micro finance company.

But, all of a sudden, Harinath Reddy, said to be a Divisional Manager of the micro finance company filed a case against them at the Uthangarai Judicial Magistrate Court using documents signed by them. The company officials also informed the court that they had already served legal notice to the women during April 2013. But the women said that they had not received any such notice.

The women came with their babies and submitted petitions to the authorities as well as to the media.