Ariyalur: Even as business tycoon and now 'absconder' Vijay Mallya continues to elude Indian agencies after defaulting on thousands of crores of loans, a farmer in Tamil Nadu's Ariyalur district was forced to commit suicide just because he could not pay Rs 1.9 lakhs in loan.
The farmer named Alagar committed suicide after loan recovery agents seized his tractor.
As per reports, Alagar had borrowed as loan Rs 7 lakh from a private finance firm. He managed to pay back Rs 5.10 lakh in installments but defaulted on the rest.
The finance firm used this pretext to seize Alagar's tractor.
The farmer is reported to have consumed pesticide and died in the hospital.
Speaking to ANI, his father said that his son had taken a loan of Rs 7 lakh to buy a tractor.
“He paid (back) Rs 5.10 lakh but could not pay the rest due to crop failure.
“I went to them (the finance agency) pleading for more time after they sent a notice asking us to pay the remaining debt.
“But they seized the tractor. My son was was humiliated in front of 100 people. He called me and said that he is going commit,” the father said.
“I'll pay the debt now but will I get my son back?” he asked.
The police has, meanwhile, registered a case under Sections 306, 506(2), 294(B), 323 and 34 of the Indian Penal Code, against seven unknown persons.