Businessman assaulted, held hostage over unpaid loan; three face FIR

Ludhiana The Haibowal police have registered a case against three individuals, including the manager of a private finance company, for the alleged kidnapping, illegal confinement, and assault of a local businessman over unpaid loan installments.The accused have been identified as Ramanjot Singh, the Ludhiana-based manager of the finance firm; Iqbal Singh of Shero village, Sangrur; and Surinder Singh of Dhuri.
The complainant, Nikhil Jain, a printing business owner residing in the Haibowal area, reported that he had borrowed Rs 1.5 lakh at interest from the company. Due to a recent financial downturn, Jain was unable to meet his installment deadlines, prompting Ramanjot Singh to allegedly issue continuous threats over the phone.The situation escalated on Wednesday while Jain was returning to his home in Ekta Vihar on his Honda Activa scooter. Upon reaching the colony's main gate, he was intercepted by Iqbal Singh and Kulwant Singh. According to the complaint, Iqbal Singh forcibly boarded the scooter and compelled Jain to drive to the finance company's office in Chaura Bazar.Once at the office, he was held hostage and subjected to physical assault and threats by Iqbal Singh and Surinder Singh, he alleged. He added that Kulwant Singh, an employee of the firm, eventually intervened to protect him.While in captivity, Jain managed to contact his wife, who immediately alerted the police. "The accused took me around 1 pm, and I was only able to walk free at approximately 5.30pm following police intervention," Jain told TOI.Acting on the complaint, the Haibowal police have booked the suspects under several sections of the Bharatiya Nyaya Sanhita (BNS), including Sections 140 (kidnapping or abducting for ransom/murder), 126(2) (wrongful restraint), 115(2) (voluntarily causing hurt), 351(3) (criminal intimidation) and 3(5) (common intention).Investigating officer assistant sub-inspector Om Prakash stated that while the FIR has been lodged, the accused remain at large. "Raids are currently being conducted to apprehend the suspects," he added.