Katara Hills Police has arrested a moneylender who had collected Rs 12.23 lakh from a youth after providing Rs 9.23 lakh, the amount compounded as it was given on interest.
Even after taking the original amount and Rs 3 lakh additional interest, the accused demanded Rs 13.23 lakh more.
When the victim refused to give the money, the accused threatened him by showing a fake pistol and forcibly grabbed the blank cheque and his wife's gold jewellery.
DCP Sanjay Agarwal said that the accused Narendra Raghuvanshi had given Rs 9.15 lakh on interest for one year to a student named Arpit Ahirwar, who is pursuing MBA, for his needs. The student deposited Rs 9.05 lakh in the accused's account within the stipulated time limit and returned Rs 3 lakh in cash.