Saji Malik died of excessive bleeding after he slashed his wrist at his residence in Kul Harda area, police said.
His family and lawyer alleged he took the extreme step due to property attachment notice issued by bank officials over loan repayment.
"My father took a loan of Rs 5 lakh from the district co-operative bank for agricultural purposes. As the bank staffers were mounting pressure on him to pay back the loan, he cut his wrist in the washroom and killed himself," the deceased's son, Sahil, told reporters.
Sahil said his father had taken the loan to buy seeds, manure and tractor, and had paid two instalments to the bank.
He said the recent hailstorm and unseasonal rains damaged crops due to which his father was unable to repay the loan. Saji was disturbed after the bank officials threatened to attach his house to recover their dues.
Amar Yadav, lawyer of the deceased, said his client was in mental agony after receiving the house attachment notice and this led him to end his life.
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