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Vejalpur resident Sandip Parmar, who sought a loan from the Colour Merchants Cooperative Bank’s Satellite branch in 2013, allegedly took his own life due to harassment by bank officials.
Sandip’s brother, Kuldeep, filed a complaint against the branch manager (Atul Shah), an agent (Chintan Shah), two sub-agents (Hiren Sompura and Pavan Sompura), and another individual named Suresh, accusing them of abetment to suicide.
According to Kuldeep, Sandip received loan approval for Rs 8 lakh but only received Rs 5.5 lakh after deductions and commissions. He further alleges irregular loan disbursements, exorbitant EMIs, and threats from the accused upon payment delays.
Despite Sandip’s financial struggles, selling valuables, mortgaging his house, and filing a complaint with the Economic Offence Wing, the police initially registered a case of accidental death.
Following Kuldeep’s complaint, Vejalpur police registered an FIR against the five officials for abetment to suicide, using abusive language, and abetment. Notably, the bank has faced four prior complaints of cheating and forgery.
