Real-Estate Investor’s Suicide in Mumbai Leads to Case Against Four Individuals for Financial Harassment

A real-estate investor in Mumbai died by suicide, reportedly due to financial pressures from several individuals involved in his business dealings. The incident, which occurred in a hotel room in Parel, has led to a police investigation after the deceased left behind a suicide note implicating four individuals for causing him significant distress.

The deceased, a man in his late fifties, was found in a hotel room where he had ingested a poisonous insecticide. The police recovered a suicide note from the scene, where the investor named four people as being responsible for his troubled financial situation. These individuals include a credit cooperative society manager, a fraudster, a lender, and his own business partner, all of whom were allegedly involved in financial harassment and deception.

According to the Kalachowkie police, the complaint filed by the deceased’s son led to a case being registered under multiple sections of the Bhartiya Nyaya Sanhita, including charges of abetment of suicide, criminal breach of trust, and cheating. Authorities have now launched an investigation into the matter, focusing on the four individuals mentioned in the suicide note.

The deceased had retired voluntarily in 2007 from his job as a bus conductor and sought to make a livelihood through real-estate investments. In 2020, he invested over ₹30 lakh into a project alongside his business partner, B. S. Solanki. However, the project failed to take off as expected, and the deceased’s financial troubles began to mount when Solanki demanded repayment of his investment. According to the note, the business partner's continuous pressure for the return of the money contributed to the victim’s sense of hopelessness.

In addition to his partnership woes, the deceased had also borrowed money from a credit cooperative society to further his business. He was unable to meet the loan repayments, leading to harassment by the society’s manager, Vilas Jadhav, who is named in the suicide note. The pressure from Jadhav reportedly worsened the victim’s mental and emotional state, driving him further into financial despair.

Another major setback occurred when the deceased came into contact with Hemant Sawant, who posed as a bank manager offering to arrange loans. Sawant allegedly took ₹20.82 lakh from the investor, along with fees and commissions for the loan services that never materialized. Sawant vanished after receiving the money, leaving the deceased to face financial ruin and legal threats from other investors who were also defrauded by him. The deceased felt compelled to repay the defrauded parties, including Ankush Kale, another individual named in the suicide note.

As the investigation unfolds, the authorities are focusing on holding the four individuals accountable for their roles in the investor’s demise.