A tragic incident unfolded in Chalakudy, Thrissur district, on Wednesday afternoon, where a 64-year-old man reportedly died by suicide. The drastic step was taken as officials from a private finance company arrived at his residence to execute a court order for the attachment of his house and properties.
Mounting Debt and a Broken Understanding
The deceased has been identified as Chirakkal Somanatha Panicker, a resident of Vettukadavu. According to preliminary reports, the financial troubles began in 2012 when Panicker secured a loan of Rs 80 lakh from the firm by mortgaging his house and land.
Over time, due to defaults in repayment, his liability ballooned to over Rs 1 crore. Family members stated there was an understanding with the finance company that after the full liability was repaid, the firm would return the remaining balance amount to Panicker. However, they allege the firm failed to honour this agreement and did not pay the due balance after the liability was cleared.
Legal Battle Ends in Court Order
The dispute escalated to the courts after the finance firm filed a case. The Irinjalakuda principal sub-court subsequently ordered the attachment of Panicker's property. Panicker's legal efforts to obtain a stay on the court order were unsuccessful, leaving him with no immediate legal recourse to prevent the loss of his home.
A Desperate Final Act
The situation reached a critical point on Wednesday when officials visited Panicker's house to formally attach the properties. Witnessing the proceedings, Panicker went inside his home and did not return. Concerned family members later discovered him hanging in a room.
He was rushed to a hospital but could not be saved. In the aftermath of the tragic death, the officials did not proceed with the execution of the attachment order at the site.
The incident has sent shockwaves through the local community, highlighting the severe human cost of financial distress and legal battles over debt.
