Man dies by suicide after NBFC Firm denies NOC despite loan repayment

Chhatrapati Sambhajinagar

A 47-year-old man tragically ended his life after an NBFC firm refused to issue a No Objection Certificate (NOC) despite his full repayment of a truck loan. The incident took place on Thursday. The suicidal has been identified as Zahoor Shaikh (47, Murumkheda, Karamad) ingested poison at the finance office. Zahoor's family has accused the financial institution of demanding an additional Rs 30,000 for the NOC after he had cleared his loan. A case of abetment to suicide was filed against the company's manager and staff on Friday.

In 2018, Zahoor had taken a loan of Rs 21.12 lakh for a truck, with an interest of Rs 59,000 per month. Two years ago, he transferred the loan to NBFC firm and paid off the full amount, including interest. However, for the past month and a half, he had been visiting the company's office every two days, seeking the NOC, but was repeatedly turned away. Zahoor informed his son that the company was demanding an additional Rs 30,000 for the certificate on Thursday. Despite his efforts to resolve the issue, he was met with the same response, leading him to take this extreme step. His son, Samad Shaikh, has filed a formal complaint and PSI Vinod Bhalerao is investigating the case.