Family members of Lalit Sheth, founder of travel operator, Raj Tours and Travels, said it was not a loan or a creditor that pushed him to commit suicide.
Sheth's son Akash said there is no merit in some media reports that claim Sheth had to return Rs 61 lakh to Vinod Bhagat, brother of slain matka king Suresh Bhagat, by Wednesday evening - the day Sheth killed himself - if he wanted to retain the Raj Travels office opposite his Opera House residence.
"It is true that there's a case in court regarding the office, but it's false that we would have lost our office if we did not pay Rs 61 lakh on Wednesday. The court has granted us two months to arrange for the payment, which gives us time until end September."
Akash said his father would never have killed himself for this amount.
"He would have had to just make a few phone calls to arrange for the money," he said. "There is no connection between the dispute with Bhagat and the suicide."
Akash said they don't know what drove Sheth to end his life. What about his statement to the police that his father had been out of sorts? Akash said: "Business-wise we are going through a tough phase because of which my father was a bit restless. But that was normal."
Bhagat confirmed what Akash said about the loan.
"Sheth asked for a three-month extension and we agreed on two months, which would end in the last week of September. By then he would arrange for the Rs 51 lakh he owed me," he said. "For someone like Sheth, it was too small an amount to have killed himself."
Bhagat said there was no fight between him and Sheth. "I was by the family's side at the funeral."