Land Grabbing,Exorbitant interest
My family's current situation is this. We reside in a small village in Tamil Nadu. My father is business man and he had purchased a property in a nearby town for 2 Cr. As he didnot have the entire 2 Cr inhand, he had to go for hand loan.
1. One of my dad's business friend helped him with 50L and the initial interest rate was 2%. As the days passed, the money lender started demanding 9% and for the pressure he put on my dad, he started paying to him at this interest. Also, as a token of security, he enforced my dad to register part of the property in his name and he would give it back to us once we clear the cash we borrowed
2. My father had also reached out to another guy, who is a big rowdy in the town (not known about him when dad initially borrowed the amount. One of our tenant suggested his name). He was charing 6% interest and was polite and good as long as my dad paid the amount and again as a token of security, he enforced and threatened my father to register 1411 sq ft (595 sq ft already in another guy's name). My father was not allowed to speak or share his concern. He threatened and got it registered from my father.
My father was undergoing all of these money pressure by himself and he wanted to come out of the issue by selling our entire property. But, the 2nd guy I have mentioned above is not letting us nither sell property nor he affords good price. We underwent severe threats and harasements from this guy. He kidnapped my father and my father was asked to sell property to him only at the price he affords and also pay him 6% interest for the money we borrowed. We lodged complaints through SP and my dad returned safely the immediate next day. Whenever, a buyer visits our site, our tenants used to inform him and the rowdy never allowed any buyer to come forward. He also said that he would murder my brothers and would kill everyone in our family.
We reached out with this concern to SP and sir directed to the right officer and unfortunately my dad was unwell and we didnot go for the settlement by Police.
Meanwhile, this rowdy and his gang had lodged a land grabbing case on us and started threatening through Police.
We are in a critical situation, where we would lose property, money and most of all my parents. My parents are example for a true hard worker and dedication. And if we go through court, the case will take its time, meanwhile my dad had got property loan for paying interest to the above persons and few others at 9%. We are now unable to pay Bank EMI and Bank people say that they might file a case on us and my brothers may lose their jobs and the life will be gone if this happens. Can any of you advice what step would be good for us next. The 1st person i have mentioned above has also snatched our ancestrol property papers from my dad. We are totally helpless. Your advice would be of a great help.