Kolhapur engineer says she paid Rs 2.5 crore on Rs 6 lakh loan; eight booked, three arrested
Karveer police have booked eight people on an engineer's complaint against a private moneylender, and arrested three, over a Rs 6 lakh loan.
A case has come to light in Kolhapur over a Rs 6 lakh loan taken from a private moneylender. An engineer says she repaid about Rs 2.5 crore against the loan, yet the demands for money did not stop.
Engineer Geeta Swapnil More (32) has lodged a complaint with Karveer police. She is a resident of Sonali in Karveer taluka and currently lives at Chintamani Park, Krantisinh Nana Patil Nagar. On her complaint, police have booked eight people and arrested three of them: Siddhesh Milind Gaikwad (24), Ajinkya Sambhaji Jadhav (25) and Swati Sunil Sinnar (23). All three live in Shivaji Peth, Kolhapur.
According to police, More needed money for her business and on September 29, 2021 took Rs 6 lakh from private moneylender Siddhesh Gaikwad. It was agreed that she would pay 10 per cent interest every month. It is alleged that a condition was also imposed that if the principal and interest were not repaid on time, she would have to pay Rs 12 lakh in place of Rs 6 lakh.
The complaint says More could not repay on time because of financial hardship. Gaikwad then began demanding Rs 12 lakh.
More alleges that Gaikwad made threats in the names of Swapnil Jadhav, Balli Bhai and Ajit Tiwade. She told police she was also threatened with death if she did not pay. According to the complaint, her mother and other relatives were also phoned and pressured for money. It is also alleged that an attempt was made to kidnap her two-year-old daughter during this period.
The complaint says that, out of fear of the continuing threats, More pledged relatives' gold jewellery at a bank to raise money. Amounts were returned to the moneylender from time to time. Finally, on January 2, 2026, she paid Rs 2,52,54,922, the complaint says. It is alleged that the demands continued regardless. Worn down by constant mental distress, More approached the police.
According to the complaint, after getting a notarised stamp paper agreement made, Gaikwad took possession of More's gold jewellery, cheques and ATM card. It is alleged that money deposited in her bank account was automatically withdrawn through the ATM. More has also said in the complaint that jewellery worth lakhs of rupees, pledged with a jeweller, was redeemed without her knowledge.
Besides the three arrested, the case also names Swapnil Jadhav (Lala Sheth), Sarita Milind Gaikwad, Tejas Chandrakant Mane, Gayatri Ajinkya Salokhe-Gaikwad and Ajinkya Ashok Salokhe. Karveer police are investigating further.
