India, Feb. 18 -- The Bhandup police have booked a loan agent for allegedly duping a business owner of Rs.38 lakh on the pretext of providing a loan of Rs.8 crore. The agent, identified as Mohammad Zulfiqar Boler, proprietor of Trident Enterprises, took processing fees and 3% commission from the business owner in advance, claiming he could use his influence to get the loan sanctioned within 45 days. But the loan was not sanctioned for months and threatened the business owner on being asked to return the money, said police.

According to the police, the complainant, 34-year-old Niti Yadav, lives in Bhandup West with her senior citizen parents and brother. Her father Parmesh Yadav, 69, started NK Engineering around 25 years ago, with a work...