In a deeply distressing incident that has sent shockwaves through the Gandhi Nagar Market area of Ludhiana, a couple allegedly died by suicide after consuming poison, reportedly driven to the act by relentless harassment from a private bank’s recovery agents over loan repayment delays.
The deceased have been identified as Jasbir Singh (60) and his wife Kuldeep Kaur (59), residents of Harbanspura. The couple operated a hosiery business from their shop situated beneath their factory. According to the family, they had taken a loan against property (LAP) of approximately Rs 2.35 crore from a private bank to support their business. Despite regularly paying 55 EMIs, a single delayed installment this month allegedly triggered a barrage of coercive tactics from the bank’s recovery personnel.
Speaking to the media, the couple’s son said that in the days leading up to the incident, his parents were receiving over 200 calls a day from recovery agents. He also alleged that they were frequently followed, confronted, and publicly humiliated. Matters escalated last week when agents reportedly barged into their home and misbehaved with the couple, he said. “When I tried to intervene, they even threatened me,” the son added, visibly shaken.
On Thursday morning, the son found his parents unconscious in their shop. “Before collapsing, they told me they had taken poison,” he recounted. Despite being rushed to DMC Hospital, both were declared dead on arrival.
Police officials from Division No. 4, led by SHO Gagandeep Singh, responded to the scene. A suicide note was recovered, in which the couple held the bank’s recovery agents responsible for mentally harassing them. The note reportedly details threats, abusive behaviour, and fears that their home would be taken away by the bank.
SHO Singh confirmed that the bodies have been sent for post-mortem and a case has been registered. “We are investigating all angles and will take strict action against whoever is found guilty. The name of the bank is being withheld for now as inquiries are ongoing,” he said.
The tragic incident has raised serious questions about the aggressive and often unregulated practices of loan recovery agents, especially those working with private financial institutions. Local traders in Gandhi Nagar Market expressed anger and grief, demanding justice and stronger regulations to curb such harassment.
The case has also caught the attention of local human rights groups, who have called for an independent probe and urged the Reserve Bank of India to look into the bank’s recovery practices.
Comments