Businessman in Mumbai kills self over Rs2 crore loan

Mumbai: Burdened by a bank loan of Rs2 crore and business losses, the owner of a pharmaceutical factory committed suicide by throwing himself under a running local train between Kandivli and Borivli stations on Monday afternoon.

Jateen Patel, 50, a resident of Charkop in Kandivli, took the extreme step at around 2.50pm. He was taken to the Bhagwati hospital at Borivli by some railway porters but was declared dead by the doctors.

The police found a handwritten suicide note in English with his address and telephone number. The note said that he had taken a Rs2 crore loan from a bank at Nariman Point a couple of years ago to set up a pharmaceutical factory at Wada in Thane district.
PM Karyakarte, senior inspector at Borivli railway police station, said Patel was unable to repay the loan as he had suffered huge losses. The bank officials, according to the suicide note, were not giving him extra time for repayment, he added.