Harassment from microfinance companies: Two from Mandya commit suicide
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Harassment from microfinance companies: Two from Mandya commit suicide

January 30, 2025

Mandya: Two persons including a woman in Mandya district have committed suicide following alleged harassment from the representatives of microfinance companies.

Those who ended their lives are Sanjay (34), a young farmer from Dugganahalli village, Malavalli taluk and Prema (52), a resident of Konnapura village near Halagur, Malavalli taluk, both in Mandya district.

It is learnt that Sanjay had obtained Rs. 1 lakh loan from a private finance company, Rs. 50,000 from a Society and Rs. 10 lakh from private money lenders and had recently sunk two borewells for agricultural purpose but failed to get water.

As harassment from the representatives of the microfinance company and money lenders for the repayment of loans increased, Sanjay reportedly hanged self. A case has been registered at Malavalli Rural Police Station.

In another case, Prema (52), unable to bear the harassment from the representatives of microfinance company, who had attempted to end her live by consuming poison, has breathed her last yesterday.   

Prema had taken a loan from a private finance company in Channapatna taluk but had failed to repay the loan amount following which the finance company had seized her house.

Depressed over this, Prema had consumed poison at about 11.30 am on Tuesday and was rushed to Halagur Hospital where she was given first-aid and was later admitted in an ICU at Mandya District Hospital for further treatment, where she breathed her last on Wednesday.

It is learnt that Prema had obtained a loan of Rs. 6 lakh from the private finance company and was paying the monthly instalments since five to six years. But she was told that the instalments were adjusted to the interest and the principal amount was renewed as a new loan for which interest was added and she was told to pay a total of Rs. 8 lakh and a notice was also served to Prema.

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As there was a delay in Prema remitting the loan amount, the private finance company had seized the house she and her family were residing following which Prema and her family members began to stay in their relative’s house. Depressed over this, Prema had consumed poison on Tuesday morning. 

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