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By:

Dr. Abhilash Dawre

19 March 2025 at 5:18:41 pm

Twenty-Four Nigerian nationals detained

Dombivli: Police have detained 24 Nigerian nationals from a high-profile society in the Khoni-Palava area of Dombivli. The detained foreign nationals are originally from Ghana and Uganda in South Africa. Police are investigating whether the detained Nigerians have any connection with drug trafficking. The major action was carried out through a joint combing operation conducted by Thane and Navi Mumbai Police between 3 am and 10 am. During the operation, a Nigerian woman allegedly attempted...

Twenty-Four Nigerian nationals detained

Dombivli: Police have detained 24 Nigerian nationals from a high-profile society in the Khoni-Palava area of Dombivli. The detained foreign nationals are originally from Ghana and Uganda in South Africa. Police are investigating whether the detained Nigerians have any connection with drug trafficking. The major action was carried out through a joint combing operation conducted by Thane and Navi Mumbai Police between 3 am and 10 am. During the operation, a Nigerian woman allegedly attempted to flee by jumping from a building. Police said further action would be taken against her after obtaining details of the hospital where she is undergoing treatment. DCP Atul Zende told ‘The Perfect Voice’ that among the 24 Nigerian nationals detained, there are 14 men, six women, and four children. Out of the 24, seven individuals possess valid documents. Eight others do not have visas or passports, while passports of nine individuals have been submitted before the court as criminal cases against them are currently under trial. During the combing operation, Navi Mumbai Police also apprehended a Nigerian national wanted in a narcotics-related case. He has been handed over to Navi Mumbai Police custody. Out of the 24 detained individuals, nine already have cases registered against them under the NDPS Act. Police said no drugs were recovered from the detained Nigerians during the operation. However, investigations are underway to ascertain whether they have any links to drug trafficking activities. Police revealed that two Nigerian nationals had earlier also been arrested from the Palava area. The investigation has found that foreign nationals are able to obtain accommodation in the Khoni-Palava area at cheaper rental rates, leading to their settlement in the locality. Police are also investigating whether landlords had informed the police before renting flats to the Nigerian nationals. Action will be initiated against landlords who failed to provide such information to the police. Property agents who acted as intermediaries in arranging accommodation for these Nigerian nationals will also face action, DCP Zende said. The combing operation was carried out under the supervision of Assistant Commissioner of Police Suhas Hemade and Senior Police Inspector Sandipan Shinde of Manpada Police Station. The operation involved 2 ACP, 25 officers, and 80 police personnel.

Why Sell When You Can Borrow?

Updated: Mar 3, 2025

investors

For investors facing short-term financial needs, liquidating mutual funds or stocks might seem like the easiest solution. However, selling investments can disrupt long-term wealth creation and attract unnecessary tax liabilities. A smarter alternative? Opting for a loan against mutual funds and shares (LAMF)—an overdraft facility that provides financial flexibility without requiring you to part with your investments.


What Is a Loan Against Mutual Funds and Shares?

A loan against mutual funds and shares allows investors to pledge their holdings as collateral to access a credit line from financial institutions. The process is entirely online, with funds available for withdrawal on the same day—offering the convenience of an automated teller machine (ATM). These loans are provided by large, RBI-regulated financial institutions, ensuring credibility and ease of access.


Why Is It Better Than Selling?

• Retain Ownership, Continue Market Growth Selling investments means losing out on potential long-term gains. Markets fluctuate, and an investment sold during a downturn may rebound later. With LAMF, you retain ownership and continue to benefit from market appreciation.

• Lower Interest Costs Compared to Other Loans The interest rate typically hovers around 10.50% per annum (subject to variation), which is significantly lower than personal loan rates. Additionally, interest is charged only on the amount withdrawn, not on the total sanctioned limit, making it a cost-effective borrowing option.

• No Fixed EMI, Flexible Repayment Unlike term loans, where monthly EMIs include both principal and interest, LAMF operates as an overdraft facility. Borrowers only need to pay the interest each month, while the principal can be repaid anytime as per the lender’s terms—sometimes allowing up to three years for repayment. This flexibility makes it an ideal solution for managing short-term cash flow needs.

• Zero Interest If Unused Establishing an overdraft limit does not mandate immediate borrowing. If you don’t withdraw funds, you pay no interest. This feature makes it a valuable contingency fund without any additional costs.


When Should You Consider This Option?

• Emergency expenses: Medical bills, urgent travel, or business cash flow gaps.

• Investment opportunities: Leverage the overdraft facility to capitalize on lucrative short-term investments.

•Avoiding capital gains tax: Selling investments may trigger tax liabilities, while a loan ensures your portfolio remains intact.

Instead of liquidating your assets, a loan against mutual funds and shares offers liquidity while preserving long-term wealth creation. Smart investors know that staying invested is key to financial growth—so why sell when you can borrow wisely?


(The author is a Chartered Accountant and CFA (USA). Financial Advisor.

Views personal. He could be reached on 9833133605. )

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