Unable to repay loan of ₹14 lakh for his start-up, 23-year-old dies by suicide

“In the note, he apologised to his mother for selling her jewellery to fund his start-up. He had also mentioned about the loan taken from three people to the tune of ₹14 lakh, and that he was unable to repay it,” said a police officer

Mumbai: A 23-year-old entrepreneur, resident of Matunga, died by suicide on Saturday after struggling to keep his star-up afloat and repay a loan of ₹14 lakh.

"The two most replicated, robust factors linked to suicide are economic change — downturn — and social disconnection," says Dr. Roger McIntyre, professor of psychiatry at the University of Toronto. And both factors, he notes, are major hallmarks of the COVID-19 pandemic. (Getty Images)

The police investigation has been revealed that the man had taken loans to start a garment store in the Hindmata area in Dadar, However, due to Covid and subsequent lockdowns, the store suffered huge losses, and he was unable to repay his creditors.

“The man was rushed to KEM Hospital where he was declared dead. The victim stayed with his mother and lost his father some time ago,” said Deepak Chavan, senior police inspector of Matunga police station.

The police found a suicide note written in the diary of the deceased.

“In the note, he apologised to his mother for selling her jewellery to fund his start-up. He had also mentioned about the loan taken from three people to the tune of ₹14 lakh, and that he was unable to repay it,” said a police officer.

The police said the post-mortem has concluded that he died due to overdose of tablets.

“We found the tablet wrappers near his bed. His mother confirmed that she had brought a packet of blood pressure and diabetes tablets last week, and it seems the victim took them all on Friday night, and fell from his bed on Saturday morning,” said another officer.