Denied loan to start a self-employment business by Bank, Kerala youth commits suicide

KANNUR: Disappointed after a bank denied loan to start a self-employment business, a  youth committed suicide at Kelakam on Friday. According to Kelakam police, the person  found hanging in the shed in which he planned to begin his business venture of making iron fence production unit is Poothavelil Abhinand Nath, 23, of Poovathinchola, near Kelakam. 

Though his friends said that it was a suicide, no suicide note has been found. The funeral was held in the evening after post-mortem examination. It was only six months ago that Abhinand got married to Vrinda. 

The police said that Abhinand’s father Jagannathan had taken a loan from Kerala Bank for the higher studies of Abhinand abroad.  Since some problems occurred in connection with the Visa, he had to return home without being able to reach Malta, where he was supposed to join for higher studies.



A case is going on in the court in connection with a Kasaragod native regarding the visa fraud. As he had returned, Abhinand tried his luck in many jobs. 

As he got married six months ago, Abhinand decided to start a new business venture by taking a loan of `3 lakh from Canara Bank. Though the bank officials had agreed to sanction the loan they asked Abhinand to produce a no-dues certificate and a copy of the sale deed of the property pledged with the Kerala Bank.

Abhinand told his friends that he had gone to the Kelakam branch of Kerala Bank and the bank manager told him that the documents could not be given to him as he had failed to repay the installments of the loan taken earlier on time.  Manager of Kerala Bank, Kelakam branch, said that nobody has approached him with such a request. Abhinand is survived by parents Jagannathan, Nalini, and brother Shyam.