Police have arrested eight people in Maharashtra's Thane district for allegedly posing as collection agents of an auto finance company and extorting money from people who had taken loan to buy vehicles, an official said on Tuesday.

The accused used to obtain the list of defaulters and target them with the help of fake documents and ID cards. If the victims did not pay them the money, they would seize their vehicles for default of EMIs, the anti-extortion cell's (AEC) senior police inspector S B Shinde said.