A 30-year-old resident of Dev Nagar, Haibowal, committed suicide by hanging himself from a ceiling fan in his house on Tuesday evening.
The victim has been identified as Jaswant Singh who allegedly committed suicide due to fraud by his business associate.
Complainant Surinder Singh, father of the deceased, claimed that the victim was into cracker business and had paid `40,000 to Sanjay, who deals in wholesale crackers.
Surinder alleged that accused Sanjay took money from his son, but refused to give crackers to him. Jaswant got depressed over this and committed suicide.
The Haibowal police registered a case under section 306 (abetment to suicide) of the Indian Penal Code against Sanjay.
Haibowal station house officer said the police have launched a manhunt to arrest the accused.