Singapore Man's Rs 1.75 Cr Loan Explodes to Rs 147 Cr Debt; High Court Orders Retrial

• A Singapore man's S$250,000 (Rs 1.75 crore) loan in 2010 ballooned to S$21 million (Rs 147 crore) by 2021 due to 4% monthly interest and penalties.
• The debt's rapid growth, from S$250,000 to S$3 million in four years, far exceeded the original principal.
• To manage repayments, he sold his S$2 million home (Rs 14 crore) to the moneylender's director in 2016, then became a tenant, paying Rs 5-6 lakh monthly rent.
• Despite selling his home, the debt continued to rise, leading to a dispute over unpaid rent and his refusal to vacate.
• High Court Judge Philip Jeyeratnam ordered a retrial, calling the debt's scale "shocking" and questioning potential illegality, deception, or usurious lending practices.

Why It Matters: Extreme interest rates turned a small loan into a massive debt, prompting a high court investigation.