Police learn he was depressed as he had not made any profit in his business in the past nine months; relatives claim those who had given him loans were constantly asking for the money
Bhavesh Palan
A 45-year-old businessman committed suicide by allegedly jumping off his 7th floor flat in Mulund in the early hours of Wednesday. Bhavesh Palan had a business of inverters. According to primary investigation, the police said he was in depression due to loss in business and debt.
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The building where Palan lived. Pics/Rajesh Gupta
Palan was a resident of Neeta Apartment on Bhakti Marg in Mulund (W) where he stayed with his father, wife and two children. On Wednesday around 5.30am, security guards at the building heard a loud thud. They found Palan in a pool of blood.
The guards informed residents, who rushed Palan to MT Agarwal Hospital, where he was declared dead by doctors. "We have recorded the statement of Bhavesh's wife and some of his relatives and friends. Prima facie, this appears to be suicide due to rising debt and loss. We haven't found a suicide note, but the family said he was in stress over debt," said an officer from Mulund police station.
Police said for the past nine months, Palan had not made a profit and had taken out loans from some people to run the business. According to some of the relatives of Palan, these people were constantly asking him to return the money. Mulund police have registered an Accidental Death Report (ADR) and are investigating further.
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