This Article is From Feb 28, 2012

Man pays off Rs 20,000 loan with pistol

Man pays off Rs 20,000 loan with pistol

Representative Pic

Mumbai: Don't have cash to repay your loan. Don't worry, just mortgage your firearm. At least that's what a man in Mumbai did. He mortgaged his pistol and six cartridges to a Crawford Market-based toy seller.

The Nagpada police arrested Nadim Ahmed Shaikh yesterday after they were tipped-off that the shopkeeper had firearms with him. A resident of Sanchawala building, Pydhonie, Shaikh revealed to the cops that he had given a friend a loan of Rs 20,000 last year. However, unable to repay the loan, they got into heated arguments and that is when the friend gave him his gun and six cartridges.

However, unfortunately for Shaikh this trade-off was overheard by someone, who then informed Vinayak Savde, a senior inspector from Nagpada police station.

Acting on the information, Savde ordered Sub-Inspector Sudhakar Deshmukh to inquire the matter and that's when Deshmukh and his team arrested Shaikh near Sagar hotel, Nagpada, last afternoon and retrieved the pistol, which is a 9mm bore. Confirming the incident, Savde said, "We have arrested Shaikh with firearms. We are investigating the case further."
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