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Recession claims another life: Rajkot stock broker jumps to death

A 41-year-old stock broker jumped to death from the eighth floor of a multi-storied building in Rajkot on Tuesday morning.

Written by Express News Service | Rajkot |
January 28, 2009 1:13:39 am

A 41-year-old stock broker jumped to death from the eighth floor of a multi-storied building in Rajkot on Tuesday morning. Preliminary investigation has revealed that it could be a case of suicidal death in wake of the downturn in the stock market.

According to the police,Gaurang Modi’s body was discovered by residents of Ajay Apartment,adjacent to Yagnik Road,at 10 am on Tuesday.

His belongings,including a driving licence,an ATM card and a cheque,revealed that he was a resident of Rushabh Apartment,which is located just yards away from Ajay Apartment.

The police have registered a case of accidental death,as a bottle of poison has also been found from the terrace of Ajay Apartment. “It appears to be a case of suicide. A poison bottle has also been found from the terrace. But we are waiting for the postmortem report,” said the investigating officer.

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There is a high possibility that Modi,who has an office in the Heera Panna building at Yagnik Road,committed suicide due to financial crunch following slump in the stock market,they added.

“He used to do dabba trading (process used by brokers to route their client’s trades outside the stock exchange),which is illegal,” said the police.

According to preliminary investigation,Modi told his wife that he was going to his office,but he actually went inside Ajay Apartment,climbed up to terrace and jumped to death.

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