A 55-year-old industrialist, originally hailing from Kolkata, committed suicide in his office cabin in Pune. He took his life as he was unable to repay the loan of Rs 40 lakh that he had procured from a private bank.

The police have identified the industrialist as Nibhas Banerjee (55), who was residing in Sudharshan Apartment in Nigdi. Nibhas use to stay in Pune along with his wife and daughter, who is working and also pursuing her MBA. A case of suicide has been registered with MIDC Bhosari police station, which comes under the Pune city police jurisdiction, on Wednesday.

Inspector Ravindra Chaudar, in-charge of MIDC Bhosari police station, said, “Banerjee was an industrialist and was residing in Pune for over a decade. He owned a company as well as a shop at Borate Wasti in Moshi, of rubber molding equipments, used for tyres in vehicles.”

Sub-inspector Haridas Bochare, who is investigating the case, said, “Banerjee was suffering losses in business since two years and had taken a loan of Rs 40. To repay the initial loan, he took another loan of Rs 40 lakh from a private finance company.

He use to pay salary to his labourers and office staff, but no profit was earned in the last few years. He was in pain and also suffered from depression. On Tuesday, around 5 pm, the labourer of the company went to take Banerjee’s permission for an assignment, but found the cabin locked from inside.”

The inspector added, “The labourer peeped from the glass, and found Banerjee hanging from the ceiling fan. The door was then broken, and Banerjee was rushed to the hospital, but was declared death by doctors. We have recovered a suicide note from Banerjee in which he mentioned that no one should be blame for his suicide.”

He also said that interactions with his wife and colleagues revealed that Banerjee was extremely depressed due to the huge losses and market inflation.