Assam police has busted a fake loan racket and arrested the managing director a company, Hemant Kumar Gogoi, from Guwahati on Tuesday, said officials. “We received information that a company named Singhaniya Agrotech Fintech Consortium Limited was running an operation here where they promised a loan of Rs 25,000 in return of a deposit of Rs 2,000 from every person,” they said. But complainants said they were not receiving the loan after their deposit, ASP Pratap Das told PTI-video. Police registered a case and started an investigation into this matter.