A jeweller committed suicide by consuming a chemical used to clean ornaments at his shop at Sion-Koliwada on Monday night.
Vasudev Swami, 44, might have taken the extreme step because he could not repay the Rs 30 lakh that he had taken from several people, his family told the police.
"Swami had incurred losses in his business and had taken loans from various people, and even banks," said Madhusudan Sripal, one of Swami's friends.
"For the past three years, he had been trying to repay the money. The interest was increasing and recently the people, whom he owed money, had also started threatening him and he was under a lot of pressure. He had also tried to sell his house to repay the loans," said Sripal.
"On Monday evening, some of his creditors had visited his shop and refused to leave until he repaid their loans. Only after he assured them that he would do so soon did they leave," added Sripal.
The police said that Swami was upset and consumed the chemicals a few minutes before he and his younger brother, Indresh, were to leave for their home.
When Indresh saw Swami faint and found the bottle of chemical nearby, he immediately took him to the Sion Hospital.
However, Swami was declared dead by the doctors at the hospital.
"We have registered an accidental death report. We are investigating to check if anyone has to be booked for abetment to suicide," said Inspector V Kamble of the Antop Hill police station.
Swami, who lived in the Indira Nagar area of Antop Hill, is survived by his wife and two sons.