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Maha: Hotelier accuses private bank of charging him higher interest on loan

An employee of Kotak Mahindra Bank was arrested by the Pune Rural Police for allegedly charging interest in excess of the promised interest rate on a loan taken by a Lonavala-based hotelier in 2013, an official said on Monday. the official said on Monday. ,

Hotelier Ashok Purohit has named seven people, including Kotak Mahindra CEO Uday Kotak, in his complaint, while Lonavala police station inspector Sitaram Dubal said he had no role in the case.

“The complainant had obtained a loan of over Rs.62 lakh from the bank in 2013. He claims that he was promised an interest rate of 10.30 per cent, but the bank charged him 12 per cent, due to which he was allegedly charged Rs. Cheated. 20-25 lakhs,” said Dubal.

He said that on March 8, a case was registered under IPC sections 420 (cheating), 467 (forgery of valuable security), 468 (forgery with intent to defraud), and 471 (forgery document or use as electronic record) had gone.

He said that one Alankar Khera of the bank’s loan department was arrested on Saturday and further investigation is on.

Refuting the allegations, the bank’s spokesperson Rohit Rao issued a statement saying, “A borrower in our Lonavala branch has lodged an FIR against the officials of Kotak Mahindra Bank at Lonavala police station in which he has made false statements regarding his lending transactions. Allegations have been made. The bank acted as per the prevailing law and procedures at all times. We are cooperating with the local authorities.”

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