Gold loan cos booked for ignoring security norms

Tribune News Service

Ludhiana, December 8

The Ludhiana police registered four cases against gold loan companies for not following the security norms. The police conducted surprise checks at these firms which exposed security chinks.

The first case was registered by the PAU police station against Muthoot Finance and Muthoot Fincorp offices, situated on the Hambran road.

Investigating officer SI Balwinder Singh of the PAU police station said a surprise checking was conducted at Muthoot Finance and Muthoot Fincorp offices during which lack of security arrangements were exposed.

A case was also registered against the Muthoot Finance office in Sarabha Nagar by the police. The Police Division 5 also registered a case regarding lack of security arrangements against the Muthoot Finance office in the Feroze Gandhi market.

The Model town police registered a similar case against the three offices of Muthoot Finance and one of Manappuram Finance.

ASI Davinder Singh said the Police Commissioner had recently issued orders for gold loan and finance firms regarding security arrangements at their offices but prominent firms were not following the norms. Hence, a case under Section 188, IPC, was registered.

A few months ago some armed robbers had entered the office of Muthoot Finance on Dugri Road and tried to take away huge quantity of gold but residents and staff of the office caught them. After the incident, the city police had issued an advisory for gold and finance firms with a warning to follow the security norms listed by the police else FIRs will be registered against them.

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