MD of private company booked for abetting the suicide of bank manager

The complainant in the case, Vibha, told the police in her statement, “Since my daughter’s board (Class X) examinations are going on, I went to sleep with her at 10.30 pm on March 11. Sandesh went to sleep in our bedroom.”

She added that early next day, around 3.30 am, the watchman of the building arrived at her house to inform that Malpani had jumped off the balcony of their bedroom.

The local police were informed and Malpani was rushed to Rajawadi hospital, where he was declared brought dead before admission.

During their search, Parksite police officers found a suicide note in the bedroom. “The note was written in English and Vibha identified Malpani’s handwriting. In the note, the deceased mentioned the name of a businessman, the MD of a multiservice private limited company, and also the (first) names of three other persons who were working with Malpani in the bank,” said an officer.

The police said the MD’s company had taken a loan of Rs 8.49 crore from a private bank. Later, the company wished to transfer the loan to the national bank where Malpani was the branch manager.

Thus, the MD applied for a loan of Rs 8.84 crore from the national bank.
“The loan got sanctioned and money was credited in the private bank’s account. But as per the terms and conditions agreed upon the two parties,
the MD had to submit documents of his two offices against which the loans were sanctioned, which he did not,” the officer said

Vibha said in her statement, “As the documents were not submitted, the senior officials of the bank held my husband responsible. Despite making several requests, he (MD) did not submit the loan guarantee documents. Therefore, my husband was under mental stress that forced him to end his life.”
Senior Inspector Vinayak Bhagoji Mer of Parksite police station said, “The case was registered on Friday and we are probing the matter. No one has been arrested so far.”