Ludhiana Elderly Couple Dies by Suicide. Photo Credit: The Indian Express
An elderly Ludhiana couple died by suicide, naming loan officials from a private bank in a recorded video, claiming they had been humiliated and harassed despite repaying over 55 instalments of a ₹2.38 crore business loan. The emotional message has prompted the police to register an FIR on charges of abetment to suicide and criminal intimidation.
The couple, Jasbir Singh (59) and Kuldeep Kaur (58), were proprietors of Panchratan Fashion, a hosiery unit located in Gandhi Market Colony, Ludhiana. According to their family, repeated harassment over a delayed EMI—even after years of regular payments—pushed them to take the extreme step. The couple ingested sulphas tablets on June 26 and were declared dead in hospital later the same day.
According to The Indian Express, In a video note recorded on their mobile phone, Jasbir Singh made a heartfelt appeal. Identifying himself as an Amritdhari Sikh, he said:
“With immense grief … we are leaving this world today. … Bank officials humiliated me to such an extent that I have no other option … I have already repaid 55 instalments … but they did not honour my white beard.”
The video, now in police custody, has been cited as primary evidence in the FIR registered at Division 4 Police Station under sections of the Bharatiya Nyaya Sanhita, including criminal intimidation (Section 351(2)), abetment to suicide (Section 108), and criminal conspiracy (Section 3(5)). The FIR specifically names Naresh Sharma, the branch manager of the bank’s Feroze Gandhi Market branch, and two unknown recovery agents.
According to the couple’s son, Gagandeep Singh, their troubles began when a recent EMI was delayed due to a short-term cash flow issue. Despite having paid over ₹1 crore so far, they received what he described as “relentless harassment” from recovery agents. He alleged more than 200 calls and multiple threatening home visits over a single delayed payment.
The original business loan of approximately ₹2.35 crore was used to expand their hosiery business. The family insists the bank officials made no effort to understand their financial situation and instead used tactics that caused mental trauma. Jasbir Singh and Kuldeep Kaur were described as emotionally fragile in their final days—unable to withstand the pressure.
Police sources confirmed that phones, video files, and call logs have been seized for forensic analysis. Investigating officers said early evidence aligns with the family’s claims of sustained harassment. The named bank officials will be summoned for questioning, and additional action will follow based on the forensic findings and witness testimonies.
The tragedy has sparked outrage among citizen groups, business associations, and human rights activists. They have demanded greater accountability from private financial institutions and stronger consumer protections for elderly borrowers. The incident also raises concerns over the conduct of loan recovery teams, particularly in cases where customers have demonstrated long-term repayment credibility.
Legal experts say that while banks have the right to pursue repayment, recovery practices that border on intimidation or mental cruelty can result in serious legal consequences. According to Reserve Bank of India guidelines, banks are mandated to follow ethical standards in loan recovery, including limits on the timing and frequency of calls and home visits.
This case has prompted calls for urgent policy reform. Financial experts suggest that the government should initiate a review of personal and SME loan recovery frameworks to ensure they include mental health considerations and accountability for third-party recovery agents.
While investigations are underway, the incident serves as a sobering reminder of the human cost of unchecked financial pressure. The Ludhiana couple’s final message has left the city in mourning and raised critical questions about how financial systems treat their most vulnerable borrowers.
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