Daijiworld Media Network - Puttur (SP)

Puttur, Jan 30: In an incident reported from Uppinangady in the taluk on Friday January 29, a person tried to escape with the ornaments he had pledged to a cooperative bank, after getting them released with the help of a firm that volunteered to clear the loan and buy the ornaments so pledged.

Ummer Farooq (26), who noticed that certain firms have been giving advertisements in newspapers, offering to release the gold ornaments pledged to banks in case people are unable to clear the mounting liability, and buy them by paying a differential amount to the loanees, contacted one such firm from Mysuru. He told them that ornaments worth about three lac rupees had been pledged by him to a cooperative bank and requested the firm to help him to release them. Two employees of the firm arrived at Uppinangady and released 81 grams of gold ornaments by remitting Rs 2.69 lac into the loan account. The differential amount of Rs 37,000 was paid to Farooq.

Representational image

The employees were putting together documents when Farooq suddenly picked up the gold ornaments pledged by him and ran away. The bank staff chased him through the streets of Uppinangady and found him with the support of locals. He was brought back to the bank, and the gold was handed over to the firm which cleared the loan.

Farooq, who was handed over to the police, was released by them after getting a bond executed.