Nashik: A 28-year-old youth allegedly committed suicide by setting himself on fire here on Wednesday evening after losing more than Rs 16 lakh in his investment in the stock market.
He was admitted to the district government hospital in a serious condition where he succumbed to injures late at night.
According to police, Rajendra Kolhe, who hails from Vitai in Chandwad taluka of the district and came to Nashik for work, was working in a private investment company. Instead of sending money to his parents in the village, he started investing money in the stock market like other friends. This investment reached Rs 16 lakh a few days ago.
However, Rajendra was hit hard by the stock market crash. Later, he changed jobs and started working in a private bank in Myco Circle. He was depressed due to the loss in the stock market. Many people were still owing money.
Since it was a holiday on Wednesday due to Mahashivratri festival, he went to Trimbakeshwar temple to pay his obeisance. While returning in the evening, he stopped his bike in the open premises of Jyoti Vidyalaya in Pimpalgaon Bahula, sat on the bike, poured petrol on himself and set himself on fire.
As soon as the villagers noticed this, they informed the Satpur police about it. They reached the spot. At that time, the bike was reduced to ashes, while Rajendra had also sustained 90 percent burnt.
Since the ambulance called by the police did not arrive even after an hour, police, with the help of locals, wrapped him in a sheet and took him to the district hospital in a police vehicle. There, Rajendra died late at night.
A case has been registered at the Satpur police station in this connection, sources added.