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Global meltdown takes 4 lives in two cities

business Updated: Sep 18, 2008 23:53 IST

As the meltdown of Indian stocks continued since Monday in the wake of global cues, it seems to have melted the hopes of a sub-broker and his family in Hyderabad and those of a sub-broker in Indore.

With heavy losses staring him in the face and lenders pressurising him to pay back loans, K. Upender committed suicide along with his family in Hyderabad on Wednesday night.

Thirty-year-old Upender cut the pipe of the cooking gas cylinder at home in Saidabad and allowed the gas to spread through the house before he lit the match. The fire claimed the lives of Upender, his wife Swati (25) and their two- year-old son Akshaya.

“From the information we have gathered so far, we feel the deceased must have incurred heavy losses in the market,” said Srinivas Rao, Inspector of Police, Saidabad.

In Indore, debt-ridden sub-broker Ravi Sharma (30) consumed poison and ended his life, apparently because his hopes of paying back his debts melted with the stock market crash.

His uncle Rajesh Joshi said, “It is apparent that Ravi was disturbed over his losses, whose magnitude is yet to be ascertained.”

On Tuesday morning he left for his share broking office at Odumbur Dharmashala in the Raoji Bazaar area but he did not return home in the evening and turned up in the wee hours the next day.

He looked exhausted and ill. He was taken to the MY Hospital from where he was discharged in the evening.

“He did not say much, and thinking that he needed rest, I too did not press him,” his father Yogeshwar Sharma said at his modest house in B Sector of Sudama Nagar.

It is possible that he consumed poison and when his condition deteriorated, he was rushed once again to the same hospital. He sank slowly and died on Thursday morning.