Coimbatore: loan denied, the man pulls the gun at the banker

COIMBATORE: City police arrested a Somayampalayam-based businessman on Tuesday for wielding a compressed air gun and attacking the chief manager of the Canara Bank The Sungam branch after it allegedly refused to sanction a loan.

Police identified him as K Vetrivelan, 44, who runs a molding unit in Somayampalayam. “I had obtained a loan of Rs 25 lakh from Andhra Bank a few years ago after promising some properties. But he could not pay the amount after suffering a great loss. A few months ago, he decided to expand the business and pay off the previous loan promising more properties, ”said a police officer.

Gunabalan of Tatabad, a tout, approached Vetrivelan promising to arrange a Rs 1 crore loan for a commission. The tout introduced him to Canara Bank chief manager Chandrasekar. Vetrivelan applied for the Rs 1 crore loan in March.

But even after nine months, the loan was not sanctioned. “A few days ago, Chandrasekar informed Vetrivelan that he could not sanction the loan since senior officials in Chennai refused to process it. Vetrivelan asked Gunabalan to meet him at the bank's branch on Tuesday. The seller arrived at the bank and was chatting with Chandrasekar when an angry Vetrivelan broke in around 11.20 in the morning. He hit the duo for refusing to sanction the loan. He also threw a gun of compressed air at the men, ”the officer told TOI.

Bank employees who tried to intervene informed the racecourse police (law and order). A police team arrested Vetrivelan and snatched the air gun and pellets.

“Vetrivelan told us that he planned to commit suicide after the loan application was rejected. Later, he decided to teach the bank manager and the seller a lesson, the officer added.

Police reserved Vetrivelan under sections 352, 452, 420 and 506 (ii) of the Indian Criminal Code and arrested him. He was arrested in judicial custody and housed in the central prison of Coimbatore.