Dairy operator dies by suicide under bank debt pressure
A 52-year-old dairy businessman died by suicide at the MGR Bus Stand on Friday, after a private bank from whom he had obtained a Rs 3-crore loan in 2022, sealed his dairy products firm earlier in the day for not paying the interest due for seven months, the police said.
According to the Mattuthavani police, the deceased -- J Rajapandi (52) of A Malampatti -- obtained the loan from the bank in Madurai three years ago, and had been repaying it properly till seven months ago. Sources said the bank had issued a notice mentioning the pending payment dues and that in the event of failure to repay, the firm would be sealed on June 27.
The deceased's son, R Jervinpal, in a complaint, claimed that his father had managed to arrange the money required, but the authorities of the private bank went ahead and sealed the firm on Friday. Allegedly upset with the development, Rajapandi died by suicide at the MGR Bus Stand.
The Madurai city police registered a case under section 194 of the BNSS. Condemning the bank authorities, Tamil Nadu Milk Dealers Welfare Association state president S A Ponnusamy, in a press note, claimed that the firm was sealed when the victim had gone to obtain a demand draft for `35 lakh (total interest for seven months).
He alleged that the authorities concerned had urged the victim to pay the principal and the interest. "An abetment of suicide case must be booked against the bank authorities for pushing Rajapandi to take the extreme step," he said.
Source : Dairynews7x7 June 30th 20