(MENAFN- IANS) Ahmedabad, May 1 (IANS) A trader died by suicide after facing harassment from loan sharks over exorbitant interest rates.
Gajendrasinh Jadeja had been entangled in a cycle of debt that began in 2001 with a seemingly small loan of Rs 10,000.
Despite repaying a substantial Rs 80,000 over the years by selling his land, the relentless demands continued, with creditors most recently demanding an additional Rs 5 lakh, officials shared.
Driven to despair, Jadeja resorted to self-harm, using a sharp-edged weapon to inflict fatal injuries upon himself.
Officials added that this action reflects the extreme pressures faced by individuals dealing with unregulated financial lenders.
Following the incident, Odhav Police registered a complaint against three individuals who were associated with predatory lending.
Two of the accused have been arrested, while the third is reportedly undergoing treatment in a hospital for an illness.
The matter is still under investigation.
Details are awaited.
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