Singaporean's 1.75 Cr Loan Explodes to 147 Cr; High Court Orders Retrial

• A Singaporean's 1.75 crore rupee loan from 2010 ballooned to 147 crore rupees by 2021.
• The debt escalated due to 4% monthly interest, 8% late payment interest, and additional processing fees.
• The individual sold his 14 crore house to the moneylender's director in 2016 but continued living there as a tenant.
• A dispute over rent led the case to court, where High Court Judge Philip Jeyeratnam called the debt "shocking."
• The High Court ordered a retrial to investigate potential fraud or illegal means in the loan agreement.

Why It Matters: Exorbitant interest and fees turned a small loan into a massive debt, prompting a High Court retrial.