Rajkot Couple Hangs To Death After Alleged Loan Shark Harassment; Family Claims ₹21 Lakh Repaid on ₹8 Lakh Debt

A 40-year-old man and his wife allegedly died by suicide at their factory near Atika Gate in Rajkot on the night of October 25, with their family accusing private moneylenders of harassing them over a loan of ₹8 lakh.

The deceased, identified as Ramesh Chavda, and his wife, Bhartiben Chavda, were residents of Kalpavan Society on Gondal Highway. According to relatives, the couple had borrowed money from lenders based in Morbi and Rajkot to finance a garlic trading business but were allegedly subjected to continued demands for repayment at exorbitant interest rates.

The family claims the couple had already repaid ₹21 lakh against the original borrowing of ₹8 lakh, yet the pressure to make further payments continued.

Family Alleges ₹21 Lakh Repaid Against ₹8 Lakh Loan

According to Laxmidas, a cousin of the deceased, Ramesh had borrowed money to support his trading business. The family alleges that the couple initially paid ₹6 lakh and subsequently paid another ₹15 lakh within around three months.

Despite these payments, the lenders allegedly continued to demand additional money, leaving the couple struggling to meet the mounting financial pressure.

Relatives have alleged that the lenders charged interest at an effective rate of around 195%, although the exact terms of the loan and the allegations against the lenders remain to be established.

The family has called for strict action against those allegedly responsible for the harassment.

Couple’s Bodies Taken to Brother’s Residence

The couple allegedly died by hanging inside their factory near Atika Gate. Their bodies were subsequently taken to the residence of Ramesh’s brother in Kalpavan Society, where relatives gathered to mourn their deaths.

Family members were inconsolable as the news spread through the neighbourhood. Relatives said they had been unaware of the full extent of the financial pressure the couple was allegedly facing.

A cousin said he had spoken to the couple just a day before the incident.

Couple Survived By 15-Year-Old Son

The couple are survived by their 15-year-old son.

The deaths have plunged the family into grief, with relatives demanding justice and urging the authorities to investigate the alleged moneylending practices and take strict action against those found responsible.

The family’s allegations regarding the loan, repayments and harassment will need to be examined by investigators.