Harassed by loan sharks, Ahmedabad trader commits suicide
Updated: May 1st, 2024
Representative image |
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 ₹10,000.
Despite repaying a substantial ₹80,000 over the years by selling his land, the relentless demands continued, with creditors most recently demanding an additional ₹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 and more details are awaited.
(Source: IANS)
-Edited for style
Also read:
Borrowers’ economy? 50-fold rise in credit card holders in six years for Gujarat
After mass suicide in Bhopal, MP govt seeks ban on online loan offering apps
Your privacy
By clicking “Accept all cookies”, you agree Gujarat Samachar can store cookies on your device and disclose information in accordance with our Cookie Policy