Pune: Textile Trader Dies By Suicide After Threats Over Loan Repayment; Five Booked
Pune: Chandannagar police have registered a case against five people, including an alleged moneylender, in connection with the death by suicide of a 34-year-old textile trader who allegedly faced repeated threats and harassment over the repayment of loans and interest. The police registered the case based on a suicide note left by the deceased and a complaint filed by his brother. The deceased…
In Pune, India, a 34-year-old textile trader named Ravindra Subhash Asalkar took his own life after allegedly facing repeated threats and harassment over loan repayments. The city's Chandannagar police registered a case against five individuals, including a suspected moneylender, in connection with Asalkar's suicide. Asalkar, who lived in Vadgaon Sheri, ran a textile shop called Mauli Homes Wholesale Traders with his brother Mahesh.
According to a complaint filed by their 38-year-old nephew Mahesh, Asalkar initially sought financial assistance from Suresh Ramkrishna Jaybhaye due to a bank's refusal to approve a loan. The brothers allegedly borrowed a total of ₹47.8 lakh from Jaybhaye at interest rates between 3% and 5%, paying around ₹1.68 lakh monthly in interest by 2024.
The brothers further borrowed from Manjiri Kulkarni, Amit Satav, and Shirish Gaikwad, paying around ₹1.5 lakh monthly in interest on those loans. As the textile business suffered due to the COVID-19 pandemic and mounting debt, Asalkar allegedly faced pressure and threats from Jaybhaye and his associates to repay the outstanding amounts.
After the shop closed, the suspects allegedly continued demanding interest and principal repayments, threatening Asalkar with death. Before taking his own life on July 20, 2026, Asalkar reportedly left a suicide note naming those responsible for the harassment. The family had reportedly paid ₹1.13 crore under pressure, but demands for additional payments persisted.
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