Former Tata Finance Managing Director Dilip Pendse committed suicide by hanging himself from a ceiling fan in Mumbai on Wednesday.
Police reported that he committed suicide at his ground floor office of a ‘Royal Breeze’ building between 9.30am and 2.30pm .
Police also found a suicide note from the spot .
The body has been sent for postmortem at Sion hospital.
Pendse is survived by his wife Pratima who lives on the second floor of the same building.
A senior police official said, “Pendse’s wife called her husband multiple times when he did not come home for lunch but all the calls went unanswered. She went downstairs to check and found Pendse hanging from the ceiling fan. She called her neighbours for help who then informed the police at around 2:30 pm”.
The official added, ” We found a seven line suicide note in which Pendse had written that no one should be blamed for the extreme step he had taken. He was frustrated due to legal cases going on against him and thus, decided to end his life. He also mentioned in the suicide note that his last rites should be carried out in Pune”.
Pendse had a son from his first wife who is based in New Jersey, USA.
He was informed about the incident and has left for Mumbai.
Dilip Pendse was allegedly found guilty of insider trading and other illegal activities after which he was banned for two years from capital markets by SEBI.
Later he became MD of Tata Finance but due to his illegal activities company initiated legal action against him.
He carried out illegal transactions in stocks of Himachal Futuristic Communication, Tata Motors, Infosys and Software Solutions India Limited.